Gujarat Urja Vikas Nigam Limited (GUVNL) has issued a tender for purchasing power from 500 MW of grid-connected solar power projects (Phase XXV). It has a greenshoe option of 500 MW and has to be set up in India. The tender covers new projects, projects currently in development and those already operating. The bids for the project have to be submitted by September 17, 2024.
The bidders will have to submit a total amount of Rs 325,000. Of this, Rs 25,000 is for the tender document and the rest is the processing fee. They are also required to submit an earnest money deposit of Rs 928,000. Post the signing of the power purchase agreement and issuance of letter of award, the winning bidders will have to provide a performance bank guarantee of Rs 2.32 million per MW.
The net worth of the bidder must be equal to or more than Rs 9.28 million per MW in the preceding financial year. In July 2024, GUVNL invited bids to procure 500 MW of renewable energy from wind projects. In June 2024, they awarded Gensol Engineering Limited with 250 MW/ 500 MWh standalone battery energy storage system tender, worth Rs 13.4 billion.
