GUVNL 500 MW tender with 500 MW greenshoe option

GUVNL Looks to Procure 500 MW Solar Energy with 500 MW Greenshoe Option

By Namrata Gulati Sapra/ Updated On Thu, Nov 16th, 2023

GUVNL Looks to Procure 500 MW Solar Energy with 500 MW Greenshoe Option

Gujarat Urja Vikas Nigam Ltd., (GUVNL) has issued a tender and invited bids for the purchase of power through competitive bidding process (followed by reverse e-auction) from 500 MW grid connected solar PV power projects without energy storage to be set up/ under construction/ already commissioned projects anywhere in India. The GUVNL tender comes with greenshoe option of additional capacity upto 500 MW.

The last date of online submission of RFP Bids for GUVNL tender is December 4, 2023. For offline submission, it is December 6, 2023. Technical bid opens on December 7, 2023. Financial bid along with reverse auction opens on December 12, 2023.

The earnest money deposit of Rs.9,28,000/- per MW is to be submitted along with the response to RfS in the form of bank guarantee.

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A bidder including its parent, affiliate or ultimate parent or any group company can only submit a single application, subject to minimum bidding for 50 MW. Multiple bids from same company including its parent / ultimate parent / affiliates / group companies shall make all the bids submitted by the group invalid. In case the bidder wishes to set up projects at more than one location, then they would need to be physically identifiable with separate delivery points / interconnection points and metering arrangement. Further, successful bidder can sign different PPAs for different projects to be set up / under construction / already commissioned projects at different locations under the bidding company or its SPV(s).

For capacity allocation under the Greenshoe Option, the modality for allocation shall be upto 500 MW additional capacity through Greenshoe Option be offered to the successful bidder(s), who are willing to execute PPA(s) with GUVNL at the lowest tariff (L1 rate) discovered under competitive bidding process (followed by e-reverse auction) to the extent of their respective quoted capacity or higher quantum (in case any of the successful bidder does not accept the additional quantum offered under the Greenshoe Option) to the extent of Greenshoe capacity.

Recently, GUVNL, in its petition before the Gujarat Electricity Regulatory Commission (GERC), told the Commission that anticipated peak demand for GUVNL and its subsidiary discoms from September-December 2023 is in the range of 16,600 MW and 22,500 MW, respectively.