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Last Updated on 25th June 2024
Gujarat Urja Vikas Nigam Limited (GUVNL), the Gujarat state power producer, has issued a tender for the purchase of power from 300 MW of grid-connected wind power projects to be set up anywhere in India with a greenshoe option. This is Phase VII of their wind power procurement program.
The last date to submit the bids is February 21, 2024. The bids will be opened on February 26. Bidders have the freedom to choose project locations anywhere within India, offering ample opportunities for wind farm developers across the country.
This fosters healthy competition and encourages the utilization of optimal wind resources nationwide. Additionally, the successful bidder will enter into a 25-year power purchase agreement (PPA) with GUVNL, providing long-term project stability and revenue predictability.
The tender applicants must pay a non-refundable bid processing fee of USD 3,608 plus GST. Additionally, they must pay an earnest money deposit of USD 15,638 per MW of the quoted capacity. The successful bidder must remit USD 38,497/MW as a performance guarantee at the time of the power purchase agreement.
The tender is expected to attract significant interest from wind power developers, both domestic and international. With its attractive terms and India's growing wind energy potential, this project holds immense promise for boosting clean energy generation and contributing to a sustainable future.
A green shoe option, also known as an over-allotment option, is a provision included in some tender agreements.In the context of the GUVNL tender for wind power projects, the "greenshoe option" refers to a specific clause in the tender document that allows GUVNL to potentially double the contracted capacity from 300 MW to 600 MW.
Gujarat Urja Vikas Nigam Limited (GUVNL) is a vital player in the electricity sector of Gujarat, India. Established in 1999, it serves as the state's electricity regulation board. GUVNL oversees a diverse portfolio of power plants, including conventional thermal, gas, and hydroelectric sources. It also actively promotes renewable energy, with a significant focus on solar and wind power generation.
GUVNL plays a key role in shaping Gujarat's electricity policy landscape, including tariff determination, renewable energy targets, and energy efficiency initiatives.
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