GUVNL’s 500 MW solar auction sees record low bid of Rs 1.99 per kWh

Gujarat Urja Vikas Nigam Limited’s auction for 500 MW (Phase XI) of solar capacity has set a record with the lowest tariff being quoted at Rs 1.99 per kWh. The figure was quoted by NTPC Limited and it represents the lowest tariff for solar projects in the country. Of the tendered capacity, 200 MW was allotted to NTPC Limited, 100 MW to Torrent Power Limited, 80 MW to Al Jomaih Energy and Water Company Limited, and the remaining 120 MW to Aditya Renewables under the bucket-filling method. The winning bidders are expected to set up solar power projects and transmission networks up to the delivery point. They must also bear all expenses, and acquire approvals, permits and clearances for project development. Further, the developers must make use of crystalline silicon, or thin-film, solar modules, with or without trackers, for the installation of solar capacity.

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