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					</table><p>The Gujarat Urja Vikas Nigam (<a href="https://www.guvnl.com/" target="_blank" rel="noopener">GUVNL</a>) 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.</p>
<p>Additionally, there is an option to expand capacity by another 500 MW under the greenshoe provision.</p>
<p>The last date for the submission of bids is April 22, 2024. Bids will open on April 25.</p>
<p>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.</p>
<p>Bidders must also furnish an earnest money deposit of ₹928,000 (~$11,201)/MW.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>However, these projects must not have been accepted under any other central or state programs and should have no obligations towards existing buyers.</p>
<p>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 (<a href="https://www.getcogujarat.com/getco_newsite/index.php" target="_blank" rel="noopener">GETCO</a>) or central transmission utility (CTU) substations.</p>
<p>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).</p>
<p>The bidder&#8217;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.</p>
<p>Recently, GUVNL <a href="https://www.mercomindia.com/guvnl-floats-tender-wind-solar-hybrid-power" target="_blank" rel="noopener">invited</a> 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.</p>
<p>Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> for timely updates on all solar tenders issued by various agencies in India.</p>


GUVNL Issues Tender to Procure 500 MW Solar Power from Projects Across India

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