February 12 (Renewables Now) - Gujarat Urja Vikas Nigam Limited (GUVNL) on Thursday launched a tender for 500 MW of grid-connected solar projects to be developed across the western Indian state.
An additional capacity of 500 MW under the so-called “greenshoe option” may also be offered to participants in the competitive bidding willing to sign power purchase agreements (PPAs) with GUVNL at the lowest quoted tariff. That tariff will be set through the competitive bidding process and an e-reverse auction. Meanwhile, a maximum tariff has not been defined.
The final date for submitting proposals is March 19.
The tender was called so as to fulfill GUVNL’s renewable power purchase obligation (RPO) and meet the future requirements for power distribution companies (discoms), GUVNL said.
The minimum project capacity for a single bidder is 25 MW, while there is no upper limit. Winners will install the photovoltaic (PV) plants and some transmission infrastructure. They will be awarded 25-year PPAs with GUVNL.
In a solar auction held by GUVNL last year, tariffs fell as low as INR 2.65 (USD 0.041/EUR 0.034) per kWh. Consultancy Mercom Capital reported, on announcing winners in September, that the company with the lowest proposal was jewellery maker GRT Jewellers India, which was entering the solar sector with a 90-MW project.
(INR 10 = USD 0.156/EUR 0.127)