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The Gujarat Urja Vikas Nigam (GUVNL) has invited bids to purchase power through a competitive bidding process from 500 MW of grid-connected wind power projects (Phase-III) with the greenshoe option for an additional capacity of up to 500 MW.

The last date to submit the bids is June 15, 2022. Bids will be opened the following day.

Bidders will have to submit an earnest money deposit of Rs 1 million per MW (inclusive of 18 per cent GST). The minimum capacity a bidder can bid has been set at 25 MW.

The successful bidder will have to furnish a performance bank guarantee of Rs 2 million per MW (inclusive of 18 per cent GST) at the time of signing the power purchase agreement (PPA).

GUVNL will enter into PPAs with the successful bidders for 25 years from the scheduled commercial operation date of the project or the date of full commissioning of the project, whichever is earlier. Only certified wind turbine models listed in the Revised List of Models and Manufacturers (RLMM) prepared by the Ministry of New and Renewable Energy (MNRE) will only be allowed.

Up to 500 MW of additional capacity through the greenshoe option will be offered to the successful bidders, who are willing to execute PPAs with GUVNL at the lowest tariff (L1 rate) s to the extent of their respective quoted capacity or higher quantum to the extent of greenshoe capacity.

Bidders should ensure pre-bid original equipment manufacturer and engineering, procurement, and construction (EPC) tie-ups with not less than three manufacturers for the design, engineering, supply, procurement, construction, and operation and maintenance.

The bidder’s net worth should not be less than Rs 12 million per MW of the quoted capacity as of the last day of the previous financial year. The net worth will be the cumulative net worth of the bidding company or consortium together with the networth of those affiliates of the bidder.

Projects under construction, projects which are not yet commissioned, and projects already commissioned but do not have any long-term PPA with any agency and selling power on a short-term or merchant plant basis will be considered.