GUVNL invites bids for 500 MW Wind Power Projects with Greenshoe Option
POWER & RENEWABLE ENERGY

GUVNL invites bids for 500 MW Wind Power Projects with Greenshoe Option

Gujarat Urja Vikas Nigam (GUVNL) has released a request for selection (RfS) to procure power from 500 MW of grid-connected wind power projects in Phase VI, with an option to add an additional 500 MW. The projects can be located anywhere in India as chosen by the bidders themselves.

For intra-state projects, the minimum eligible bid capacity is 25 MW, while for inter-state projects, it is 50 MW.

Interested bidders must submit their bids by August 7, 2023, and the bid opening will take place on August 18.

Bidders are required to pay a non-refundable bid processing fee of Rs 300,000 ($3,643) plus 18 per cent goods and service tax, along with an earnest money deposit of Rs 1 million ($12,144) per MW of quoted capacity.

Upon successful bid, the selected bidder must provide a performance bank guarantee of Rs 2 million ($24,287) per MW of allotted capacity at the time of signing the power purchase agreement (PPA).

The duration of the PPA will be 25 years, and the wind project developer will be responsible for designing the interconnection with either the state transmission utility or central transmission utility (CTU) through a dedicated transmission line for energy delivery at the Gujarat Energy Transmission Corporation periphery.

In the case of inter-state projects or projects connected through the CTU Network, all transmission charges and losses up to the delivery point will be the responsibility of the wind project developers.

The commissioned wind projects must be operational within 24 months of signing the PPA. For partial commissioning, the minimum capacity required for acceptance will be 25 MW (for intra-state projects) or 50 MW (for inter-state projects), or 50 per cent of the allocated capacity, whichever is lower.

The tender also allows projects under construction, not yet commissioned, or already commissioned without a long-term PPA to be considered. These projects must not have been accepted under any other central or state programs and should not have any obligations towards existing buyers.

To be eligible, bidders must have prior Original Equipment Manufacturers/Engineering Procurement and Construction tie-ups with at least three other entities before submitting the bid.

Bidders must have a net worth of at least Rs 12 million ($145,724) per MW of quoted capacity in any one of the last three financial years. Wind project developers from countries sharing a land border with India can participate in the tender if they are registered with the authorised body.

The declared annual capacity utilisation factor (CUF) of the project must not be less than 22 per cent. Developers must maintain generation within +20 per cent and -20 per cent of the declared CUF during the 25-year PPA. In case of underperformance, the developer will be liable to pay 50 per cent of the PPA tariff as compensation to GUVNL.

If the generation exceeds 20 per cent of the declared annual CUF, developers can sell the excess power to other entities, but GUVNL holds the right of first refusal. If GUVNL chooses to purchase the excess power, developers will be compensated at 75 per cent of the PPA tariff.

GUVNL has specified that only type-certified wind turbine models listed in the Revised List of Models and Manufacturers of Wind Turbines by the Ministry of New and Renewable Energy can be used.

Previously, GUVNL awarded contracts for 240 MW out of the total 500 MW capacity in Phase V of their grid-connected wind projects auction. The lowest tariff quoted in that auction was Rs 3.11 ($0.038) per kWh.

According to Mercom India Research, GUVNL has tendered a total of 2.3 GW of wind power projects across Phase I to V. 

Gujarat Urja Vikas Nigam (GUVNL) has released a request for selection (RfS) to procure power from 500 MW of grid-connected wind power projects in Phase VI, with an option to add an additional 500 MW. The projects can be located anywhere in India as chosen by the bidders themselves.For intra-state projects, the minimum eligible bid capacity is 25 MW, while for inter-state projects, it is 50 MW.Interested bidders must submit their bids by August 7, 2023, and the bid opening will take place on August 18.Bidders are required to pay a non-refundable bid processing fee of Rs 300,000 ($3,643) plus 18 per cent goods and service tax, along with an earnest money deposit of Rs 1 million ($12,144) per MW of quoted capacity.Upon successful bid, the selected bidder must provide a performance bank guarantee of Rs 2 million ($24,287) per MW of allotted capacity at the time of signing the power purchase agreement (PPA).The duration of the PPA will be 25 years, and the wind project developer will be responsible for designing the interconnection with either the state transmission utility or central transmission utility (CTU) through a dedicated transmission line for energy delivery at the Gujarat Energy Transmission Corporation periphery.In the case of inter-state projects or projects connected through the CTU Network, all transmission charges and losses up to the delivery point will be the responsibility of the wind project developers.The commissioned wind projects must be operational within 24 months of signing the PPA. For partial commissioning, the minimum capacity required for acceptance will be 25 MW (for intra-state projects) or 50 MW (for inter-state projects), or 50 per cent of the allocated capacity, whichever is lower.The tender also allows projects under construction, not yet commissioned, or already commissioned without a long-term PPA to be considered. These projects must not have been accepted under any other central or state programs and should not have any obligations towards existing buyers.To be eligible, bidders must have prior Original Equipment Manufacturers/Engineering Procurement and Construction tie-ups with at least three other entities before submitting the bid.Bidders must have a net worth of at least Rs 12 million ($145,724) per MW of quoted capacity in any one of the last three financial years. Wind project developers from countries sharing a land border with India can participate in the tender if they are registered with the authorised body.The declared annual capacity utilisation factor (CUF) of the project must not be less than 22 per cent. Developers must maintain generation within +20 per cent and -20 per cent of the declared CUF during the 25-year PPA. In case of underperformance, the developer will be liable to pay 50 per cent of the PPA tariff as compensation to GUVNL.If the generation exceeds 20 per cent of the declared annual CUF, developers can sell the excess power to other entities, but GUVNL holds the right of first refusal. If GUVNL chooses to purchase the excess power, developers will be compensated at 75 per cent of the PPA tariff.GUVNL has specified that only type-certified wind turbine models listed in the Revised List of Models and Manufacturers of Wind Turbines by the Ministry of New and Renewable Energy can be used.Previously, GUVNL awarded contracts for 240 MW out of the total 500 MW capacity in Phase V of their grid-connected wind projects auction. The lowest tariff quoted in that auction was Rs 3.11 ($0.038) per kWh.According to Mercom India Research, GUVNL has tendered a total of 2.3 GW of wind power projects across Phase I to V. 

Next Story
Infrastructure Urban

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's  fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building  (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous  Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in  Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant  advancement in the company's commitment to engineered performance, manu..

Next Story
Infrastructure Urban

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Next Story
Infrastructure Urban

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Open In App