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GUVNL Invites Bids for 1,125 MW Solar Power Projects in Khavda RE Park

Interested parties are invited to submit their bids by February 15 with the bid opening scheduled for February 19.

February 01, 2024. By Abha Rustagi

Gujarat Urja Vikas Nigam Limited (GUVNL) has kicked off a bidding process for the procurement of power from grid-connected solar projects, aiming to collectively generate 1,125 MW. 

These projects are earmarked for the renewable energy park at Khavda (GSECL Stage-3), overseen by the Gujarat State Electricity Corporation (GSECL). Notably, these solar initiatives are planned to be executed without incorporating energy storage.

Interested parties have been called upon to submit their bids by February 15, with the bid opening scheduled for February 19.

The tender document carries a cost of INR 25,000 plus 18 percent GST, a requirement to be fulfilled by the bidders. Additionally, a bid processing charge of INR 300,000 is applicable, along with an earnest money deposit (EMD) of approximately INR 928,000 per MW of the quoted capacity.

Upon receiving the letter of intent and before finalizing the power purchase agreement (PPA), the successful bidder is obligated to furnish a performance bank guarantee equivalent to INR 23.2 lakhs/MW of the allocated capacity.

Bidders are expected to offer a minimum capacity of 50 MW, and eligibility is extended to projects under construction, those not yet operational, and those operational without a long-term PPA, provided they are not bound by existing obligations to buyers or accepted under other central or state programs.

Within 30 days of the letter of intent or ten days from the Gujarat Commission’s tariff adoption, whichever is later, successful bidders must sign the PPA with GUVNL.

To participate in this tender, the net worth of bidders as of the last date of the previous financial year should not be less than INR 92.8 lakhs/MW of the quoted capacity. Bidders from countries sharing a land border with India are eligible to join the bidding process.

GUVNL has stipulated the use of solar modules from the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy. This initiative marks a significant step in Gujarat's commitment to expanding its renewable energy portfolio and contributing to the nation's clean energy objectives.
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