GUVNL Invites RFS for 500 MW Solar Projects with Greenshoe Option

Gujarat Urja Vikas Nigam (GUVNL) has floated a request for selection to purchase power through a competitive bidding process from 500 MW grid-connected solar PV power projects to be set up anywhere in India. There is a greenshoe option with an additional capacity of 500 MW (RFS for 500 MW).

The last date for submitting the bid for this RFS for 500 MW solar power project is November 28, 2022, till 05:00 pm & bids will be opened on December 01, 2022, at 11:00 am.

The bidder can apply for the minimum capacity of 25 MW of this 500 MW solar project.

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The scope of work of this SJVN Green Energy 500 MW tender includes design, engineering, site development, manufacture, inspection at supplier’s works, supply, insurance, transport, storage, erection, testing & commissioning. The scope of work also includes operation & maintenance (O&M) services.

Each interested bidder will have to pay Rs. 25,000 (+ 18% GST) as a cost of RFS document. Each interested bidder will also have to pay Rs. 3 Lakh (+ 18% GST) as a bid processing fee, which is non-refundable. Each awarded bidder will have to pay Rs. 4 lakh/MW as an earnest money deposit/bank guarantee. The awarded bidder must provide Rs. 8 lakh/ MW as a performance bank guarantee (PBG) after the issuance of the letter of intent and before signing the power purchase agreement (PPA). 

The successful bidder, if being a single company, can also execute the Project through a Special Purpose Vehicle (SPV) with at least 76% shareholding in the SPV registered under the Indian Companies Act, 2013, before signing of PPA. 

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The minimum average annual financial turnover of the bidder during the last three years should be not less than 80 lakh per MW. The net worth of the bidder during the last Financial Year shall be positive, wherein the net worth shall be calculated as follows:

Net Worth = (Equity + Reserves) – (Revaluation reserves+ intangible assets + miscellaneous expenses to the extent not written off + carried forward losses)

Bidders can view/download this GUVNL 500 MW grid-connected solar project tender documents and technical specifications here.

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Earlier, Gujarat Urja Vikas Nigam (GUVNL) floated a tender to purchase power from 600 MW of grid-connected solar power projects at the Khavda Solar Park, Gujarat with a greenshoe option with an additional capacity of 600 MW.