GUVNL Invites Bids for 500 MW Solar PV Power Projects

Gujarat Urja Vikas Nigam Ltd. (GUVNL) has initiated a competitive bidding process, accompanied by a reverse e-auction, for the procurement of power from 500 MW grid-connected solar PV power projects across India. The tender includes a greenshoe option, allowing for an additional capacity of up to 500 MW.
 
The crucial dates for the GUVNL tender are as follows:

• Online submission of Request for Proposal (RFP) Bids: Until December 4, 2023
• Offline submission deadline: December 6, 2023
• Technical bid opening: December 7, 2023
• Financial bid and reverse auction opening: December 12, 2023

 
To participate, bidders must submit an earnest money deposit of INR 9,28,000/- per MW in the form of a bank guarantee along with their response to the Request for Selection (RfS).
 
A bidder, along with its parent, affiliate, or ultimate parent, can submit only one application, subject to a minimum bidding commitment of 50 MW. Multiple bids from the same company or its affiliates will render all bids from the group invalid. 
 
In the case of setting up projects at multiple locations, each project must be physically identifiable with separate delivery points, interconnection points, and metering arrangements. Successful bidders have the flexibility to sign distinct Power Purchase Agreements (PPAs) for projects at different locations.
 
The greenshoe option allows for the allocation of up to 500 MW additional capacity to successful bidders at the lowest tariff (L1 rate) discovered during the competitive bidding process. This allocation is contingent on the bidder's willingness to execute PPAs with GUVNL, corresponding to the extent of their quoted capacity or higher (if any successful bidder declines the additional capacity).
 
GUVNL, in a recent petition to the Gujarat Electricity Regulatory Commission (GERC), projected an anticipated peak demand in the range of 16,600 MW and 22,500 MW for GUVNL and its subsidiary discoms from September to December 2023, respectively.