GUVNL tenders 500 MW of solar power capacity

Gujarat Urja Vikas Nigam Limited (GUVNL) has issued a tender to set up 500 MW of grid-connected solar PV projects across the state. The tender has been announced to fulfil Gujarat’s renewable purchase obligation and meet the power requirements of state’s discoms. As per tender guidelines, the bid winners can generate an additional 500 MW of solar power at the lowest quoted tariff (L1). GUVNL has provided a list of substations that will evacuate power from these projects. While the minimum project capacity allowed for bidding by a single developer is set at 25 MW, the maximum is 500 MW. Further, 25-year PPAs will be signed within one month from the date of issue of the letter of award (LoA). The successful developers will have to secure funds within nine months from the date of issue of the LoA. In case of a delay in commissioning by six months, GUVNL will encash the performance bank guarantees on a daily basis equivalent to the capacity not commissioned. In case there is a delay of more than six months, the tariff discovered after the reverse auction will be reduced at Re 0.50 per kWh for the uncommissioned capacity. The deadline for the submission of bids is March 19, 2018.