- GUVNL invites bids for 625 MW of solar PV projects (with a Greenshoe option to add 625 MW) on a Build-Own-Operate basis in India.
- The tender uses a tariff-based competitive bidding and reverse e-auction, with mandatory EMD and PBG requirements.
Gujarat Urja Vikas Nigam Limited (GUVNL) has launched a tender to procure 625 MW of grid-connected solar projects across India. The Request for Selection (RfS), GUVNL/625 MW / Solar (Phase XXVIII), dated November 21, 2025, allows GUVNL to add 625 MW through a Greenshoe option. The company will also conduct a tariff-based competitive bidding process, followed by an electronic reverse auction.
Bidders must develop the projects on a Build-Own-Operate basis. GUVNL will sign 25-year Power Purchase Agreements (PPAs) with the winning bidders, commencing 24 months after the execution of the PPAs. The company allows projects anywhere in India, including under-construction or commissioned plants, as long as they do not have existing long-term PPAs. Bidders will pay all transmission charges and losses to the delivery point and may connect to either the State or the central transmission utility. GUVNL sets a minimum capacity of 50 MW for interstate projects and 10 MW for STU-connected projects.
Meanwhile, GUVNL uses a single-stage, double-envelope bidding system. Bidders can download documents from November 21. The company will hold a pre-bid meeting on December 3. Bidders must submit their online bids by December 15 and deliver the supporting offline documents by December 17. GUVNL will open technical bids on December 18 and announce financial bid and e-auction dates separately.
GUVNL requires bidders to submit an Earnest Money Deposit (EMD) of ₹9.28 lakh per MW as an irrevocable bank guarantee. The company will forfeit EMD if a selected bidder withdraws or fails to sign the PPA. GUVNL will release EMD only after receiving a Performance Bank Guarantee from successful bidders.
GUVNL also said the tender will expand India’s solar capacity, increase competition, and secure reliable, cost-effective renewable energy. The company stated that the 25-year PPA will provide long-term stability, and the Greenshoe option will enable it to double the solar capacity resulting from this procurement.