GUVNL Invites Bids For Procuring Power From 750 MW Solar Projects With Greenshoe Option

KREDL Tenders 2 MW Solar Project Installation Along With 4.5 MW BESS

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Gujarat Urja Vikas Nigam Limited (GUVNL) has issued a request for proposals (RFP) for the purchase of power from grid-connected solar projects totaling 750 MW, with a greenshoe option for an additional 750 MW of capacity.


The deadline for submitting online bids is August 23, 2022. The day of the bid opening is August 26.


The winning bidders and GUVNL may agree to a power purchase agreement (PPA) that will last for 25 years, starting on the project’s anticipated commercial operation date.

An earnest money deposit, Rs 400,000/MW is required to furnish by the bidders. Before signing the PPA and following the issue of the letter of intent, the selected bidder must provide a performance bank guarantee (PBG) in the amount of Rs 944,000/MW.

25 MW should be the bare minimum project capacity. Participation in the tender is also open to projects that are already being built but do not have a PPA with current buyers. 

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If there is spare capacity at the associated Gujarat Energy Transmission Corporation (GETCO) substation for the integration of renewable energy, solar projects may be installed in the current wind farms that are already wired into the grid.

The undertaking must be planned to supply energy to GETCO’s perimeter. Through a dedicated line or a pooling substation of an existing wind farm, the project’s grid interconnection with the state transmission utility (STU) or the central transmission utility (CTU) substation can be accomplished.

The bidders’ net worth shall not be less than Rs 8 million per MW of the stated capacity as of the final day of the last fiscal year. Any bidder from a nation that borders India on land will also be permitted to place a bid.

The solar modules that will be utilized for the projects must have a warranty for their peak output wattage, which should not be less than 90% after 10 years and 80% after 25 years from the project’s start of commercial operation.

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According to GUVNL, the announced annual capacity utilization factor (CUF) shall never go below 17%. The winning bidder must continue to generate electricity between +10% and -15% of the announced value for the next 10 years. CUF should be between +10% and -20% after 10 years until the PPA’s conclusion.

Further, the winning bidder must compensate GUVNL at a rate equal to 25% of the PPA tariff if they are unable to produce the required amount of energy within the CUF’s allowed limit.

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