A total of 13 companies have submitted the technical bids for development of the 500 MW grid connected solar photovoltaic (PV) power projects to be developed under Gujarat Urja Vikas Nigam Limited’s (GUVNL’s) Phase II solar project. These include Orange Renewables (30 MW), Eden Renewables (70 MW), Mahindra Renewables Private Limited (200 MW), UPC Solar (50 MW), Avaada Power Private Limited (300 MW), Fortum Corporation (50 MW), Adani Group (200 MW), Aditya Birla Renewables Limited (250 MW), Feynman (Canadian Solar, 100 MW), Gujarat State Electricity Corporation Limited (75 MW), Kosol (50 MW), Azure Power (500 MW) and Tata Power (50 MW).
The tender has been oversubscribed by an aggregate capacity of 1,925 MW.
The successful bidder will be responsible for setting up the solar PV power projects, including the transmission network up to the delivery point. The power purchase agreements (PPAs) will be signed within one month from the date of issue of letter of award (LoA). The PPAs will be executed between GUVNL and the selected bidders for a period of 25 years from the date of commercial operations. The successful developers will have to secure the financing arrangements within nine months from the date of issue of LoA.