The Gujarat Urja Vikas Nigam (GUVNL) has invited bids to procure electricity from 500 MW grid-connected solar photovoltaic power projects, excluding energy storage. The tender allows for new projects as well as those in the development stage or already operational across India.

Additionally, there is an option to expand capacity by another 500 MW under the greenshoe provision.

The last date for the submission of bids is April 22, 2024. Bids will open on April 25.

Bidders should submit ₹25,000 (~$301.78) + 18% GST as the cost of the tender document and another ₹300,000 (~$3,621.46) + 18% GST as the processing fee.

Bidders must also furnish an earnest money deposit of ₹928,000 (~$11,201)/MW.

The selected developers have to submit a performance bank guarantee (PBG) of ₹2.32 million (~$28,001)/ MW after the letter of award is issued and before the power purchase agreement (PPA) is signed.

GUVNL mandates the utilization of solar modules listed on the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.

Projects in various stages, including those under construction, yet to be commissioned, or already commissioned without a long-term PPA with any entity, and currently selling power on a short-term or merchant plant basis, will be eligible for consideration.

However, these projects must not have been accepted under any other central or state programs and should have no obligations towards existing buyers.

Solar projects can be established within existing grid-connected wind farms, provided spare capacity is available for renewable energy integration at the respective Gujarat Energy Transmission Corporation (GETCO) or central transmission utility (CTU) substations.

Bidders must offer a minimum power quantum of 50 MW for interstate-connected projects and 10 MW for projects connected to the state transmission utility (STU).

The bidder’s net worth, as of the financial year ending on either December 31, 2022, or March 31, 2023, whichever is applicable, must be no less than ₹9.28 million (~$112,006.92) per MW of the quoted capacity.

Recently, GUVNL invited bids to purchase 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.

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