The Gujarat Urja Vikas Nigam (GUVNL) has invited bids for the purchase of power from 500 MW grid-connected wind-solar hybrid renewable energy projects with the possibility of expanding the capacity by an additional 500 MW through the greenshoe option.

This is the Phase II of this tender. The projects under Phase I were recently awarded to KPI Green Energy and Juniper Green Energy.

The last date for the submission of bids is March 13, 2024. Bids will be opened the next day.

Bidders are required to submit ₹1.5 million (~$18,083.07) as a bid processing fee. They must submit an earnest money deposit ₹928,000 (~$11,146)/MW of the quoted capacity.

The successful bidder must furnish an amount equivalent to ₹2.32 million (~$27,866)/MW of the allotted capacity as a performance bank guarantee after issuing the letter of intent and before signing the power purchase agreement (PPA).

Projects under construction, those not yet operational, and those already in operation but without a long-term PPA with any agency selling power on a short-term or merchant basis will be considered eligible. However, this eligibility criterion applies exclusively to projects that have not been accepted under any other central or state programs and do not have any obligations to existing buyers.

Successful bidders are required to enter into a PPA with GUVNL within 30 days from the issuance of the letter of intent or within 10 days from the adoption of the tariff by the Gujarat Electricity Regulatory Commission, whichever occurs later.

To mitigate technology risks and ensure timely project commissioning, only commercially established and operational technologies are permissible for use.

Bidders from countries sharing a land border with India are eligible to participate in this tender, provided they are registered with the competent authority.

The bidders’ net worth must meet or exceed the calculated amount determined by the following formula, dependent on the installed capacity breakdown provided by the bidder:

Minimum Net-Worth requirement = [(₹11.58 million (~$139,614) x Rated Installed Capacity of Solar PV component) + (₹13.86 million (~$167,104) x Rated Installed Capacity of Wind Power component)]

Only wind turbine models certified and listed in the Revised List of Models and Manufacturers by the Ministry of New and Renewable Energy (MNRE), updated until the project’s scheduled commercial operation date, are approved.

GUVNL has specified the use of solar modules listed on the Approved List of Models and Manufacturers issued by the MNRE.

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