Tata Power Renewable Energy Limited (TPREL), the renewable arm of Tata Power, has received a letter of award from Gujarat Urja Vikas Nigam Limited (GUVNL) to develop a 120 MW solar project in Gujarat. The tender for this project was announced in February 2020 under Phase VIII of the 500 MW solar power projects being tendered by GUVNL. The tariff for the tender was capped at Rs 2.65 per kWh. As per the tender document, the selected bidder will supply power to GUVNL for a period of 25 years. The project is to be developed within 18 months from the execution of the power purchase agreement (PPA).