GUVNL Releases Tender for Supply of 500 MW Solar Energy Power Projects Across India

Gujarat Urja Vikas Nigam Limited (GUVNL) has issued an invitation for bids to procure electricity from 500 MW grid-connected solar photovoltaic power projects, with no provision for energy storage. This tender is open to both new projects and those in various stages of development or already operational anywhere in India.

Moreover, the tender includes an option to extend the capacity by an additional 500 MW through the greenshoe provision.

Interested parties must submit their online bids by April 22, 2024, with bid opening scheduled for April 25.

The tender document cost of ₹25,000 + 18% GST and the processing fee of ₹300,000 + 18% GST must be submitted by the bidders.

Furthermore, bidders must provide an earnest money deposit of ₹928,000 per MW.

Upon selection, developers must furnish a performance bank guarantee (PBG) of ₹23.2 lakh per MW prior to signing the power purchase agreement (PPA), following the issuance of the letter of award.

GUVNL specifies the use of solar modules listed on the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.

Projects at various stages, including those under construction, yet to be commissioned, or already operational without a long-term PPA with any entity, and currently selling power on a short-term or merchant plant basis, are eligible for consideration.

However, such projects should not have been accepted under any other central or state programs and must have no obligations towards existing buyers.

Solar projects may be established within existing grid-connected wind farms, provided there is available spare capacity for renewable energy integration at respective Gujarat Energy Transmission Corporation (GETCO) or central transmission utility (CTU) substations.

Bidders are required to offer a minimum power quantum of 50 MW for interstate-connected projects and 10 MW for projects connected to the state transmission utility (STU).

Additionally, bidders must demonstrate a net worth, as of either December 31, 2022, or March 31, 2023, whichever is applicable, of no less than ₹92.8 lakh per MW of the quoted capacity.