Gujarat Urja Vikas Nigam Limited (GUVNL) plans to purchase up to 500 MW of solar power from non-park-based, grid-connected PV projects located anywhere in India. It also intends for an additional 500 MW through the greenshoe option.
The developers for the project will be chosen using the process of e-bidding which will be followed by an e-reverse auction. The winning bidder will have to undertake the establishment of the solar project which includes the electrical network up to the delivery point. The project’s minimum capacity is 25 MW and they can be situated anywhere in India at the bidder’s discretion. GUVNL can enter into a 25-year power purchase agreement with the successful bidders.
Recently in October 2022, GUVNL floated bids for 300 MW of grid-connected wind power projects (Phase-IV) with an additional 300 MW greenshoe option. The minimum bid capacity for intrastate projects and interstate projects was 25 MW and 50 MW respectively.