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Monday, 12 February 2018 17:03

Gujarat Urja Vikas Nigam Limited floats 500MW solar power tender

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12/02/2018

After successfully completing bidding to source 500MW solar power last year, Gujarat Urja Vikas Nigam Limited (GUVNL) has floated another tender to procure 500MW from grid-connected solar photovoltaic power projects through competitive bidding. There is also a greenshoe option for the purchase of an additional 500MW.

GUVNL invited bids for solar power to fulfil its renewable power purchase obligations (RPPO) and to meet future requirements of distribution companies (discoms). "An additional 500 MW capacity through greenshoe option may be offered to participating bidders, who are willing to execute PPAs (power purchase agreements) with GUVNL at the lowest tariff (L1 rate)," the state-run utility said in its tender document.

The minimum project capacity has been set at 25MW. The last date for submission of bids is March 19, 2018, while technical and financial bids will be opened on March 20 and March 26, respectively. The date for the reverse e-auction will be intimated to eligible bidders after the bids are evaluated.

GUVNL will enter PPAs with the successful bidders for a period of 25 years from the scheduled commercial operation date of the project. At present, the state's total installed power generation capacity is 1,420 MW.

Last June, GUVNL invited separate bids for 500MW each from solar and wind power developers. For solar power supply, four companies won bids in September. They are Azure Power, the Tamil Nadu-based GRT Jewellers, Gujarat State Electricity Corporation Limited (GSECL) and Gujarat Industries Power Company Ltd (GIPCL).

Six companies were selected by GUVNL in December to supply it 500MW of wind power. These companies are Sprng Energy Private Limited, KP Energy Limited, Verdant Renewables Private Limited, Betam Wind Energy Private Limited, Powerica Ltd and ReNew Power Ventures Private Ltd.

Additional Info

  • News Section: Solar Energy News
  • Month: February
  • Year: 2018
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