The Gujarat Urja Vikas Nigam Ltd. (GUVNL) has launched a new solar PV tender for 500 MW grid connected capacity under Phase XII. It said the 500 MW capacity will enable the utility to fulfill its renewable power purchase obligation (RPPO) while also meeting future requirements of state electricity distribution companies.
Minimum project capacity to be considered under the tender will be 25 MW and these can be located across Gujarat. Successful bidders will have to set up solar PV power projects including the transmission network up to the delivery point, as per tender terms.
Bidders selected under the tender will need to enter power purchase agreements (PPA) with GUVNL for a period of 25 years post project completion. Projects currently under construction and those with no PPAs with existing buyers will be considered. Solar projects will also be allowed to be set up in existing grid connected wind farms, subject to availability of spare capacity for renewable energy integration at the corresponding substation, in order to make use of same transmission infrastructure.
Within 12 months from the date of the PPA execution, successful bidders will be expected to achieve financial closure on the project. The Gujarat Energy Development Agency (GEDA) will provide necessary support in terms of required approvals and sanctions to achieve project commissioning.
Last date to submit bid is February 23, 2021 for online submissions, while offline bids will be accepted till February 25, 2021. Tender details can be sourced on the GUVNL website.
The 500 MW solar PV tender launched by GUVNL under Phase XI made history after it attracted the historic low record PV tariff of INR 1.99 per kWh, as per Mercom India Research (see Historic Low For Indian Solar Tariffs @INR 1.99/kWh).