RFP invited For purchase of power from 500 mw grid connected solar photovoltaic power projects to be setup in the state of Gujarat

Gujarat Urja Vikas Nigam Ltd (hereinafter referred to as “GUVNL”) is a company incorporated under the Companies Act 1956 and is the holding company of all the unbundled functional entities of the erstwhile Gujarat Electricity Board (GEB) and is performing the bulk purchase and bulk sale of power, assigned as per the reorganization scheme.

In order to fulfill the renewable power purchase obligation (RPPO) and to meet the future requirements of Discoms, GUVNL intends to procure solar power up to capacity of 500 MW through Competitive Bidding Process (conducted through electronically facilitated online web based portal followed by reverse auction). GUVNL shall enter into Power Purchase Agreement (PPA) with the Bidders selected, based on this RfS for purchase of Solar power for a period of 25 years from the commercial operation date of the project based on the terms, conditions and provisions of the RfS

Qualification Requirements

Bidder as defined in section 2 is eligible to participate under this RfS. Any consortium, if selected as successful bidder for the purpose of supply of power to GUVNL, shall incorporate a Project company/ Special Purpose Vehicle (SPV) with equity participation by the Members in line with consortium agreement (to be submitted along with the response to RfS) before signing of PPA with GUVNL, i.e. the Project Company incorporated shall have the same shareholding pattern as given at the time of submission of response to RfS. This shall not change till the signing of PPA and the Controlling Shareholding (held by the Lead Member holding not less than 51% of the voting rights or paid up share capital) shall not change from submission deadline of response to RfS up to One Year after the COD of the Project. Transfer of controlling shareholding within the same group of companies will however be allowed after COD with the permission of  GUVNL, subject to the condition that, the management control remains within the same group of companies. The bidder should meet the following eligibility criteria as mentioned below.

Eligibility Criteria

i) The Net-Worth of the Bidder for the financial year ended on 31.03.2017 shall not be less than INR 1.50 Crores per MW (of the capacity quoted).

ii) Bidders shall have to furnish a Certificate from Chartered Accountants, certifying the Networth per MW of quoted capacity as on 31st March, 2017. For avoidance of doubt, “net worth” as per section 2 (57) of the Companies Act 2013 means the aggregate value of the paid-up share capital and all reserves created out of the profits and securities premium account, after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as per the audited balance sheet, but does not include reserves created out of revaluation of assets, write back of depreciation and amalgamation.

iii) Pursuant to evaluation of Net Worth Criteria as part of technical bid, if it is found by GUVNL that the Bidder is eligible for lesser quantum than the quantum for which bid has been submitted, then the Bidder shall be qualified for such lesser quantum, provided that such quantum is not less than minimum bid capacity i.e. 25 MW.

Bid Submitted to

General Manager (IPP)

Gujarat Urja Vikas Nigam Ltd

Sardar Patel Vidyut Bhavan,

Race Course Vadodara-390007

Tel No. 0265-2340289, 0265-2310582 / 83 /84 / 85/ 86

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