GUVNL Issues Tender For 500 MW Solar Power Projects

Gujarat Urja Vikas Nigam Ltd. (GUVNL) has issued tender inviting bids for purchase of power through competitive bidding process [followed by reverse e-auction] from 500 MW grid connected solar photovoltaic power projects (Phase XIX) to be set up anywhere in India with greenshoe option of additional upto 500 MW.

GUVNL tender puts the last date to submit bids is March 13, 2023 and the bids will be opened on March 16. A bidder is required to submit a processing fee of Rs 300,000 and also Earnest Money Deposit (EMD) of Rs 400,000/ per megawatt of energy in the bid.

The Net-Worth of the bidder as on date of financial year ending i.e. 31.03.2022 or 31.12.2022 as the case may be shall not be less than Rs 80 Lakhs per MW of the capacity quoted.

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GUVNL said in the notification that it intends to procure solar power up to capacity of 500 MW (Phase XIX) and additional upto 500 MW of power under Greenshoe option in order to fulfill the renewable power purchase obligation (RPPO) and to meet the future requirements of Discoms.

The Projects shall be located at the locations chosen by the Bidders anywhere in India at its own discretion. GUVNL may decide to enter into PPA with successful bidders for a period of 25 years from the scheduled commercial operation date of the project. The bidders will be free to avail fiscal incentives like Accelerated Depreciation, Concessional Customs and Excise Duties, Tax Holidays, benefits from trading of carbon credits, etc. as available for such projects.

The minimum solar project capacity shall be 25 MW. The selection of Projects would be technology agnostic within PV technology and crystalline silicon or thin film, etc. with or without Trackers can be installed.

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GUVNL said that the project should be designed for delivery of energy at GETCO periphery. The Bidders are required to obtain necessary clearances and permits as required for setting up the Solar Power Projects.

Solar Projects will also be allowed to be set up in the existing Wind Farm which is already connected to the grid.

The declared annual CUF shall in no case be less than 17%, says GUVNL. Successful Bidder shall maintain generation so as to achieve annual CUF within + 10% and -15% of the declared value till the end of 10 years from COD, subject to the annual CUF remaining minimum of 15%, and within +10% and – 20% of the declared value of the annual CUF thereafter till the end of the PPA duration of 25 years.

GUVNL recently auctioned 500MW of solar and 300MW of wind capacities. In the solar power auction, Sprng Energy (200 MW), ib Vogt Singapore (130 MW), Hinduja Renewables (120 MW) and Blupine (Solarcraft Power India)  (50 MW) walked away with allotments. In wind energy auctions, Juniper Green Energy, WYN Renewables, EDF Renewables, ACME Pokharan Solar and Solarcraft Power India emerged as winners.