Gujarat Urja Vikas Nigam Ltd (GUVNL) has announced a significant expansion of its renewable portfolio with the issuance of a new tender for the procurement of grid-connected wind power under Phase XI. Released under RfS No. GUVNL / 250 MW / Wind (Phase XI) dated April 30, 2026, the initiative seeks to establish a base capacity of 250 MW, furthering Gujarat’s aggressive push toward its Renewable Purchase Obligations (RPO). A strategic provision in this tender is the Greenshoe Option, which allows for the procurement of an additional 250 MW—potentially totaling 500 MW—to be allocated to successful bidders at the lowest discovered tariff. This mechanism highlights GUVNL’s focus on leveraging competitive price discovery to scale state-wide clean energy availability.
Key Tender Specifications
The Phase XI tender provides the following core project parameters for interested developers:
- PPA Duration: Successful bidders will enter into a 25-year Power Purchase Agreement (PPA) with GUVNL, commencing from the Scheduled Commencement-of-Supply Date.
- Project Location: Developers are granted flexibility to establish projects “Anywhere in India” at their own discretion of cost, risk, and responsibility.
- Greenshoe Option: The utility reserves the right to expand procurement capacity by up to an additional 250 MW based on the lowest tariff discovered during the e-reverse auction.
- Interconnection and Transmission: Projects must connect to either the State Transmission Utility (STU) or Central Transmission Utility (CTU) networks. For Inter-State (ISTS) projects, the bidder must bear all transmission charges and losses up to the delivery point.
Critical Timelines and Schedule
Prospective participants must strictly adhere to the following administrative schedule:
- RfS Issuance Date: April 30, 2026
- Pre-bid Meeting Registration Deadline: May 5, 2026
- Pre-bid Meeting Date: May 7, 2026 (via video conferencing)
- Online Bid Submission Deadline: May 26, 2026
- Offline Document Submission Deadline: May 28, 2026
- Technical Bid Opening: May 29, 2026
Financial Requirements and Fees
Participation is contingent upon the fulfillment of the following non-negotiable financial obligations:
- Document Fee: ₹25,000 plus GST (non-refundable).
- Processing Fee: ₹3 lakh plus GST (non-refundable).
- Earnest Money Deposit (EMD): ₹13 lakh per MW, provided in the form of a bank guarantee along with the response to the RfS.
- Performance Bank Guarantee (PBG): ₹32 lakh per MW, required at the time of PPA signing.
Eligibility and Technical Criteria
To ensure high-quality infrastructure and financial stability, the following criteria must be met:
- Eligible Project Types: The tender is open to new projects, projects under construction, projects not yet commissioned, and already commissioned projects without a long-term PPA (merchant plants), provided they have no existing obligations toward other buyers or state/central schemes.
- Minimum and Maximum Capacity:
- Intra-state (InSTS): Minimum 10 MW.
- Inter-state (ISTS): Minimum 50 MW.
- Maximum Bid: 250 MW for both ISTS and InSTS connections.
- Net Worth Requirement: Bidders must demonstrate a minimum net worth of ₹1.27 crore per MW of quoted capacity based on the last financial year.
- Equipment Standards: In compliance with quality control mandates, developers must use type-certified wind turbine models listed in the ‘Revised List of Models and Manufacturers (RLMM)’ as issued and updated by the Ministry of New and Renewable Energy (MNRE).
- Generation Performance Requirements: Developers are required to maintain a minimum declared annual CUF (Capacity Utilization Factor) of 25% throughout the 25-year contract duration.
Project Execution Deadlines
Post-selection milestones are structured to ensure timely grid integration:
- Financial Closure: Required within 12 months from the date of agreement signing.
- Project Commissioning: Full commissioning must be achieved within 24 months from the date of signing the agreement.
Bidding Process and Evaluation
The procurement follows a single-stage, double-envelope evaluation method consisting of separate technical and financial reviews. Following technical qualification, an e-reverse auction will be conducted to discover the final tariffs. GUVNL emphasizes that any capacity allocated under the Greenshoe provision will only be granted at the lowest discovered tariff, ensuring optimal cost-efficiency for the distribution companies.
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