GUVNL Floats 250 MW Wind Tender With Greenshoe Option

Gujarat Urja Vikas Nigam Limited (GUVNL) has invited bids for procuring power from 250 MW of grid-connected wind power projects under Phase XII, with an additional capacity option of up to 250 MW under the greenshoe mechanism. The tender allows developers to participate in projects connected to both the Inter-State Transmission System (ISTS) and Intra-State Transmission System (InSTS).

Tender Highlights

Tendering Authority: Gujarat Urja Vikas Nigam Limited (GUVNL)
Tender Capacity: 250 MW
Additional Capacity: Up to 250 MW under Greenshoe Option
Tender Phase: Phase XII
Project Type: Grid-Connected Wind Power Projects
Minimum Bid Capacity: 10 MW (Intra-State) / 50 MW (Inter-State)
Maximum Bid Capacity: 250 MW
Minimum Annual CUF: 25%
Bid Submission Deadline: November 30, 2026
Tender Document Fee: ₹25,000 + 18% GST
Transmission Connectivity: ISTS and InSTS

GUVNL has set November 30, 2026, as the bid submission deadline. The tender document is available at a cost of ₹25,000 plus 18% Goods and Services Tax (GST).

Minimum Bid Capacity and Eligibility

The tender specifies a minimum bid capacity of 10 MW for Intra-State projects and 50 MW for Inter-State projects. The maximum eligible bid capacity is 250 MW for both ISTS- and InSTS-connected projects.

Bidders must offer a minimum annual Capacity Utilisation Factor (CUF) of 25%. Proposals offering a CUF below this threshold will be declared non-responsive and rejected. In such cases, the corresponding Earnest Money Deposit (EMD) may also be forfeited.

GUVNL has also stipulated that a bidder, including its parent company, affiliate, ultimate parent or any group company, can submit only one application under the tender.

Developer and Consortium Requirements

The tender permits participation by individual companies as well as consortiums. Developers participating through a Special Purpose Vehicle (SPV) must maintain the prescribed shareholding requirements.

For single-company bidders, the shareholding in the SPV executing the Power Purchase Agreement (PPA) must remain at least 51% until one year from the Commercial Operation Date (COD), except with prior approval from GUVNL.

Similarly, consortium members must collectively maintain at least 51% shareholding in the SPV or project company executing the PPA during the specified period, unless GUVNL grants prior approval.

Additional Generation and Sale Provisions

The tender also provides provisions for handling surplus electricity generation. If generation exceeds the stipulated level of 20% above the declared annual CUF, the successful bidder may sell the additional electricity to another entity.

However, GUVNL will retain the first right of refusal for such surplus generation. The utility must communicate its refusal within 15 days of confirming receipt of the request. If no response is provided within this period, the refusal will be treated as deemed.

The Phase XII procurement is expected to provide additional opportunities for wind power developers to participate in Gujarat’s renewable energy procurement programme, with the greenshoe option allowing GUVNL to procure additional capacity beyond the initial 250 MW tendered.