GUVNL’s 500 MW solar tender that was oversubscribed discovers lowest tariff of Rs 2.20 per kWh

Gujarat UrjaVikas Nigam Limited (GUVNL) conducted the solar auction for 500 MW of capacity. This is the first solar auction after the basic customs duty announcement on cells and modules by the Ministry of New and Renewable Energy (MNRE).The winning bidders which had submitted the L1 tariff of Rs 2.20 per kWh include:NTPC Limited (150 MW), Sprng Energy (120 MW), Coal India Limited (100 MW) and Tata Power(60 MW). Apart from these bidders, SJVN Limited was awarded the remaining 70 MW capacity after it had submitted a proposal for developing 100 MW of solar projects at a tariff of Rs 2.21 per kWh.

Auction result of GUVNL’s 500 MW solar tender (Phase XII)

Bidder Capacity (MW) Tariff (Rs per kWh)
Sprng Energy 120 2.20
NTPC Limited 150 2.20
Coal India Limited 100 2.20
Tata Power 60 2.20
SJVN Limited 70* 2.21
* The company bid for 100 MW but won 70 MW
Source: GUVNL

Earlier in December 2020, GUVNL’s auction for 500 MW (Phase XI) of solar capacity 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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