Gujarat Urja Vikas Nigam Limited (GUVNL) has announced results of its 500 MW (Phase I) solar tender. Aditya Birla Renewables and Giriraj Renewables (Avadaa) have emerged as the L1 bidders by quoting a tariff of Rs 2.44 per kWh to develop 100 MW and 300 MW of capacity respectively. Azure Power quoted Rs 2.45 per kWh to develop 500 MW but will be awarded only 100 MW through the bucket filling method. In all, 13 bidders had submitted technical bids, of which nine participated in the financial bidding. The tariffs quoted by the participating bidders ranged from Rs 2.44 per kWh to Rs 2.88 per kWh.