Gujarat Urja Vikas Nigam (GUVNL) has invited bids to procure power from 250 MW grid-connected solar power projects anywhere in India with a greenshoe option of 250 MW.

The last date to submit bids is February 10, 2025. Bids will be opened on February 13.

Bidders must pay a tender processing fee of ₹300,000 (~$3,467.2) plus 18% GST. They must also furnish an earnest money deposit of ₹928,000 (~$10,724.6) per MW in the form of a bank guarantee.

Successful bidders must also submit a performance bank guarantee of ₹2.32 million (~$26,806).

Projects under construction, projects not yet commissioned, and projects already commissioned but without a long-term power purchase agreement (PPA) with any agency and selling power on a short-term or merchant plant basis will, however, be considered if they are not already accepted under any other Central or State programs.

Selected bidders must choose a Central Transmission Utility or Gujarat Energy Transmission Corporation substation for the interconnection. The projects can be located anywhere in India.

They must offer a minimum capacity of  50 MW for interstate-connected projects and 10 MW for STU-connected projects.

Successful bidders must ensure a minimum capacity utilization factor of 22%. In case of default, the successful bidders are liable to compensate GUVNL for the shortfall in energy availability at 150% of the PPA tariff.

They must use only commercially established and operational technologies to minimize the technology risk and to achieve timely commissioning of the projects. They can indicate the selection of technology at the time of submitting bids.

The net worth of the bidders must not be less than ₹9.28 million (~$107,223.6) per MW of the quoted capacity.

GUVNL may sign a power purchase agreement with the successful bidders for 25 years.

GUVNL recently invited bids to procure power from 250 MW grid-connected wind power projects with a greenshoe option of 250 MW in Gujarat.

Last year, it invited bids to purchase power from 500 MW of grid-connected solar power projects (Phase XXV) to be set up anywhere in India, with a greenshoe option of an additional 500 MW.

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