GUVNL floats bids for 500 MW solar projects

Gujarat Urja Vikas Nigam (GUVNL) has requested bids for the purchase of power from 500 MW of grid-connected solar power projects (Phase XIX) to be built anywhere in India with an additional 500 MW greenshoe option. According to the tender guidelines, the bidders must pay a processing fee of Rs 300,000 plus 18 per cent GST. The bidders are also required to provide Rs 400,000 per MW as an earnest money deposit. Following the issuance of the letter of intent and prior to the signing of the power purchase agreement, the successful bidder will be required to provide a performance bank guarantee in the amount of Rs 800,000 per MW of the quoted capacity.

The successful bidders will be required to sign PPAs with GUVNL within 30 days of the letter of intent being issued. The project’s minimum capacity will be 25 MW. Only commercially established and operational technologies can be used to reduce technology risk and ensure project completion on time. Projects that are currently under construction and do not have a PPA with an existing buyer will also be eligible to participate in the tender.

The successful bidder must build solar power projects, including the electrical network, up to the delivery point at its own expense and in accordance with the provisions of the tender document. The project should be designed to provide electricity to the Gujarat Energy Transmission Corporation (GETCO). The successful bidder will be solely responsible for connecting the grid to GETCO or the central transmission utility (CTU). Solar projects will also be permitted in existing wind farms that are already connected to the grid, provided that there is spare capacity for renewable energy integration at the corresponding GETCO or CTU substation. The deadline for submitting bids online is March 13, 2023.

 Recently in February 2023, Juniper Green Energy, WYN Renewables (EDF Renewables), ACME Pokharan Solar, and Solarcraft Power India won the Gujarat Urja Vikas Nigam’s (GUVNL) auction to supply power from 300 MW of grid-connected wind projects (Phase-IV) and had an additional 300 MW greenshoe option. Juniper Green Energy was awarded 50 MW by quoting Rs 2.91 per kWh. EDF Renewables and ACME Pokharan Solar each won 100 MW by quoting Rs 3 per kWh and Rs 3.01 per kW. Under the bucket-filling method, Solarcraft Power India won 50 MW at Rs 3.01 per kWh out of a quoted capacity of 100 MW.