Gujarat Urja Vikas Nigam Ltd (GUVNL) intends to procure 600 MW solar power from the projects to be located in 600 MW Khavda Solar Park with an additional up to 600 MW under the greenshoe option.
The projects will be awarded through competitive bidding. GUVNL may decide to enter into power purchase agreement (PPA) with the successful bidders for 25 years from the scheduled commercial operation date of the project.
The successful bidders will set up PV projects in Khavda Solar Park on a build-own-operate basis.
Each developer must bid for a minimum 100 MW capacity and in multiples of 100 MW only.
The additional capacity of up to 600 MW through the greenshoe option will be offered to the successful bidders who are willing to execute PPAs with GUVNL at the lowest tariff discovered under the competitive bidding process.
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