SECL invites bids for 500 wind power projects off Gujarat coast
Gujarat coast using viability gap funding (VGF).
The Union Cabinet had in June approved a VGF scheme for 1,000 MW offshore wind projects in Gujarat and Tamil Nadu.
Proposed guidelines for the tender, which were issued last week, state that the successful bidder or bidders will get to sign a power purchase agreement at a fixed tariff of ₹4.5 per unit for Gujarat.
Bidders will be required to submit technical and financial bids, with the lowest quoted VGF getting the highest capacity. There will be a greenshoe option as well for allocation of additional capacity of up to 50 MW with the total maximum capacity set at 550 MW.
In a tender, a greenshoe option is a provision that allows procuring additional power capacity through competitive bidding.
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