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GUVNL Invites Bids To Procure Power From 500 MW Solar Projects With Greenshoe Option

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Gujarat Urja Vikas Nigam Limited (GUVNL) has issued a request for selection (RfS) to acquire electricity from 500 MW of solar projects under Phase XIV to satisfy its renewable power purchase obligation. The last date for proposal submissions is May 18, 2022, which will be unveiled on May 23.

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GUVNL has also provided a greenshoe option for up to 500 MW of extra capacity, the allocation of which will be according to its preference. 

A bidder may submit several offers for a total capacity of 500 MW, including the capacity provided under the greenshoe option. The project must have a minimum capacity of 25 MW. 

Bidders must pay a tender processing charge of Rs 300,000 + 18% GST and a document fee of Rs 25,000 + 18% GST, both of which are nonrefundable. They must also provide a Rs 400,000/MW as an earnest money deposit.

GUVNL can enter into a power purchase agreement (PPA) with a successful bidder for a period of 25 years beginning with the project’s anticipated commercial operation date.

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The selected bidders would be required to present a performance bank guarantee of Rs 944,000/MW, inclusive of GST, upon signing the PPA.

Along with obtaining connection and land registration, winning bidders will be responsible for getting all necessary permissions, permits, and clearances for the project’s implementation.

The project should be intended to supply electricity to the Gujarat Energy Transmission Corporation (GETCO) periphery. The successful bidder will be in charge of establishing grid connectivity with GETCO or the central transmission utility (CTU).

Solar projects are permitted in existing grid-connected wind farms if the spare capacity for renewable energy integration is available at fitting GETCO or CTU substations.

Bidders must have a net worth of at least Rs 8 million per MW of stated capacity as of the previous fiscal year or the year before, to be eligible for bidding. Bidders from countries that share a land border with India will also be considered for this procurement.

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Construction projects that do not have a PPA will also be allowed to participate in the bidding process.

When submitting their proposal, successful bidders must reveal their yearly capacity utilization factor (CUF), which cannot be less than 17%. The CUF for the project will stay constant for the duration of the PPA.

If the minimum energy corresponding to the annual CUF is not generated, successful bidders will be obligated to pay GUVNL compensation equal to 25% of the PPA tariff.

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