GUVNL issues tender for 625 MW solar capacity with greenshoe option

Gujarat Urja Vikas Nigam Limited has released a tender to source power from 625 MW of grid connected solar projects located anywhere in India. The notice includes a greenshoe option for another 625 MW, bringing potential procurement to 1,250 MW.

The Phase XXVIII tender is open to projects that are under construction, recently commissioned or already operating without a long term PPA. These projects cannot be tied to any other state or central scheme. The guidelines also allow new solar capacity to be set up within existing grid connected wind farms if transmission capacity is available at the substation.

Bidders must provide an earnest money deposit of Rs 928,000 per MW. Selected developers will later furnish a performance bank guarantee of Rs 2.32 million per MW. GUVNL will sign a 25 year PPA with winning bidders, with the term beginning from the scheduled supply date. The bid submission deadline is December 15 2025.