GUVNL issues tender for 500 MW solar projects

Gujarat Urja Vikas Nigam Limited (GUVNL) has issued a request for proposals (RfPs) for 500 MW grid-connected solar projects under phase XXII. The project will be set up across India, with an additional 500 MW green-shoe option.

According to the tender guidelines, the bidders are required to submit Rs 928,000 per MW as an earnest money deposit. After receiving the letter of award, the developer is required to furnish the performance bank guarantee of Rs 2.32 million per MW of the contracted capacity. The bid submission deadline is December 4, 2023.

The bidder must offer a minimum capacity of 50 MW. Within 30 days of receiving the LOA or within 10 days from tariff adoption by Gujarat commission, whichever is later, the winning bidder is required to sign power purchase agreement (PPA) with GUVNL. Furthermore, GUVNL has mandated the use of indigenously manufactured solar modules listed in the Approved List of Models and Manufacturers.

In August 2023, Mahindra Susten announced the signing of a PPA with GUVNL for a period of 25 years. The company won 100 MW capacity and an additional greenshoe option capacity of 100 MW, totaling 200 MW at a tariff of Rs 2.72 per kWh.

In the same month, KPI Green Energy Limited emerged as a winner for grid-connected solar PV project of 200 MW (AC) in Gujarat. The project was won as a part of 800 MW tender issued by GUVNL to be developed at Gujarat State Electricity Corporation Limited’s Khavda solar park, stage 2.