Gujarat Urja Vikas Nigam Limited (GUVNL) has announced the winners of its 500 MW solar PV auction held in September 2018. This is part of the the total 1,000 MW capacity that had to be retendered. Aditya Birla Renewables Limited and Giriraj Renewables Private Limited have won 100 MW and 300 MW of capacity respectively by quoting the lowest tariff of Rs 2.44 per kWh. Azure Power had submitted the bids to develop 500 MW of projects, but it has won only 100 MW by quoting a tariff of Rs 2.45 per kWh. The successful bidder will be responsible for setting up the solar power projects, including the transmission network up to the delivery point. GUVNL will sign PPAs with the bidders for a period of 25 years from the commercial operation date. The developers will have to secure financing within nine months of the date of LoA issuance.