GUVNL Launches Competitive Bidding for 500 MW Solar Projects with Greenshoe Option

Gujarat Urja Vikas Nigam Ltd. (GUVNL) has announced a significant step in its renewable energy expansion by launching a competitive bidding process for the procurement of 500 MW of grid-connected solar photovoltaic (PV) power projects. This initiative, which includes the potential for an additional 500 MW under the Greenshoe option, is part of GUVNL’s broader strategy to enhance solar power capacity within Gujarat and across India.

Key Details of the Tender

The tender, detailed in the Request for Selection (RfS) document dated August 20, 2024, marks the 25th phase (Phase XXV) of GUVNL’s ongoing solar procurement efforts. Interested bidders can download the tender document starting from August 20, 2024, which outlines the project scope, technical requirements, and submission procedures.

Important Dates and Submission Process

Pre-bid Meeting: Interested bidders must register by August 27, 2024, to participate in the pre-bid meeting scheduled for August 30, 2024, at 11:30 AM via video conferencing. Registered participants will receive a meeting link from GUVNL.

Bid Submission Deadlines:

Online Submission: September 17, 2024, by 5:00 PM.

Offline Submission: September 19, 2024, by 5:00 PM.

Technical Bid Opening: Scheduled for September 20, 2024, at 11:30 AM. The dates for the financial bid opening and reverse e-auction will be announced to eligible bidders later.

Project Scope and Requirements

GUVNL is seeking bids for a total capacity of 500 MW, with the possibility of increasing this capacity by up to 500 MW through the Greenshoe option. The minimum project size for interstate connected projects is set at 50 MW, while projects connected to the State Transmission Utility (STU) must have a minimum size of 10 MW. The projects are required to achieve a minimum annual Capacity Utilization Factor (CUF) of 22%.

The selected bidders will be responsible for the complete setup of the solar PV projects, including the development of the electrical network up to the delivery point. They are also required to secure all necessary permits and approvals. Bidders have the flexibility to choose between crystalline silicon or thin-film PV technologies, with or without trackers, provided they meet the technical specifications.

Financial and Administrative Requirements

To participate, bidders must pay a non-refundable processing fee of ₹3,00,000 plus 18% GST and submit an Earnest Money Deposit (EMD) of ₹9,28,000 per MW. Payments are to be made via electronic transfer, with the necessary details provided to GUVNL.

The Greenshoe option offers successful bidders the chance to increase their project capacity by up to 500 MW at the lowest discovered tariff (L1 rate). Bidders interested in this option must confirm their intent within 10 days of the reverse auction or upon receiving the offer from GUVNL.

This tender represents another crucial step in Gujarat’s journey towards a more sustainable energy future, further solidifying its position as a leader in India’s renewable energy sector.

For more details, refer to the official tender document [here].

This new solar initiative by GUVNL is expected to draw considerable attention from the solar industry, given the attractive terms and the state’s proven track record in renewable energy development.