Gujarat Urja Vikas Nigam Ltd. (GUVNL) has floated tenders to develop 1.2 GW solar projects (including 600 MW greenshoe option).
GUVNL plans to acquire 600 MW of solar power. The projects will be awarded through a tender. It can decide to enter into 25-year Power Purchase Agreements (PPAs) with the tender winners.
The winners of the tender will set up solar power projects in Khavda Solar Park on a build-it-yourself basis.
Developers will receive a bid for a minimum capacity of 100 MW and only in multiples of 100 MW.
Up to 600 MW of additional capacity through greenshoe option will be offered to successful bidders who are willing to enter into PPAs with GUVNL at the cheapest tariff found in the bidding process.