Gujarat Urja Vikas Nigam (GUVNL) has 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.

The tender allows for new projects and those in the development stage or already operational across India.

The last day to submit the bids is September 17, 2024. Bids will be opened on September 20.

Bidders should submit ₹25,000 (~$298) as the cost of the tender document and ₹300,000 (~$3577) as the processing fee.

Bidders must also furnish an earnest money deposit of ₹928,000 (~$11,065)/MW.

The selected developers must submit a performance bank guarantee of ₹2.32 million (~$27,663)/MW after the letter of award is issued and before the power purchase agreement (PPA) is signed.

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 other central or state programs and should have no obligations towards existing buyers.

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

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 or central transmission utility substations.

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

The bidders’ net worth must be no less than ₹9.28 million (~$110,654)/MW of the quoted capacity as of the previous financial year.

KPI Green Energy, Avaada Energy, Solarcraft Power India 5 (BluPine Energy), NRC Industries, and  Hinduja Renewables were declared winners of GUVNL’s Phase XXIV auction to supply solar power.

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