GUVNL to procure 1 of GW solar power

Gujarat Urja Vikas Nigam Limited (GUVNL) plans to purchase up to 500 MW of solar power from non-park-based, grid-connected photovoltaic (PV) projects located anywhere in India.

It also intends for an additional 500 MW through the greenshoe option. The developers for the project will be chosen using the process of e-bidding which will be followed by an e-reverse auction. The winning bidder will have to undertake the establishment of the solar project which includes the electrical network up to the delivery point. The project’s minimum capacity should be 25 MW and can be situated anywhere in India at the bidder’s discretion. GUVNL will enter into a 25-year power purchase agreement with the successful bidders.