Gujarat Urja Vikas Nigam Limited (GUVNL) has floated tender for 500MW grid-connected solar photovoltaic power projects through competitive bidding. There is also a greenshoe option for the purchase of an additional 500MW.
GUVNL invited bids for solar power to fulfil its renewable power purchase obligations (RPPO) and to meet future requirements of discoms. GUVNL in the tender document said “An additional 500 MW capacity through greenshoe option may be offered to participating bidders, who are willing to execute PPAs (power purchase agreements) with GUVNL at the lowest tariff (L1 rate).”
GUVNL has set minimum project capacity at 25MW. The last date for submission of bids is March 19, 2018, while technical and financial bids will be opened on March 20 and March 26, respectively. The tender notice notes that the date for the reverse e-auction will be intimated after the bids are evaluated.
GUVNL will enter PPAs with the successful bidders for a period of 25 years from the scheduled commercial operation date of the project. At present, the state’s total installed power generation capacity is 1,420 MW.