Gujarat utility Gujarat Urja Vikas Nigam Ltd (GUVNL) has launched a tender to procure power from 500 MW grid connected solar PV capacity with greenshoe option of an additional up to 500 MW.
The agency aims to source this capacity to meet its renewable power purchase obligation (RPPO) under phase XIV, and to fulfil future requirements of discoms.
All eligible projects should be located in the state of Gujarat with a minimum capacity of 25 MW. These can be located within an existing grid connected wind farm, subject to availability of spare capacity for renewable energy integration at corresponding Gujarat Energy Transmission Corporation (GETCO)/central transmission utility (CTU).
Projects under construction currently but with no power purchase agreement (PPA) with existing buyers can also participate in the tender.
Up to 500 MW additional capacity under greenshoe option will be offered to successful bidders who will be willing to execute power purchase agreements (PPA) with GUVNL at the lowest tariff (L1) rate discovered under the auction.
"Also, GUVNL reserves the right to short close the capacity lower than 500 MW at its discretion, if the prices are abruptly high. Additionally, the discretion to allot or not to allot the additional up to 500 MW capacity under greenshoe option shall be vested solely with GUVNL," stated the utility.
A pre-bid meeting is scheduled for April 30, 2022 for which interested companies can register before April 26, 2022. Last date for online bid submission is May 18, 2022, while offline submissions will be accepted till May 21, 2022, as per the request for selection documents.
GUVNL's 500 MW phase XIII solar auction attracted INR 2.29 per kWh as the winning bid (see India PV News Snippets).