Blupine Energy, Engie, Tata Power and UPC renewables emerge as winners in GUVNL’s solar auction

The winners of Gujarat Urja Vikas Nigam’s (GUVNL) auction to procure energy from 750 MW of grid-connected solar projects with a greenshoe option of an additional capacity of up to 750 MW (Phase XVI) are Solarcraft Power India 2 (Blupine Energy), Solairedirect Energy (Engie), Tata Power Renewable Energy, and Utkrrisht Solar Energy (UPC Renewables). Engie won 200 MW at Rs 2.50 per kWh, while Blupine won 120 MW with a quote of Rs 2.49 per kWh. Tata Power was awarded 300 MW at a quote of Rs 2.65 per kWh. Out of the 280 MW quoted capacity, UPC Renewables won 130 MW at Rs 2.66 per kWh.

In the GUVNL auction to develop 500 MW of solar projects with a greenshoe option of an additional capacity of up to 500 MW (Phase XIV), the discovered tariff of Rs 2.49 per kWh is 8 per cent higher than the bid of Rs 2.30 per kWh. The winners were Aditya Birla, Hinduja Renewables Energy, and SJVN. The GUVNL solar auction’s lowest price ever for 500 MW (Phase XI) of projects was Rs 1.99 per kWh in December 2020. This tariff was quoted by NTPC, Torrent Power, Al Jomaih Energy and Water Company, and Aditya Renewables.

To fulfil its renewable power purchase obligation (RPPO) and fulfil distribution companies’ (DISCOMs) requirements, GUVNL plans to purchase solar energy. In July 2022, the tender was floated. The tender specified that only commercially established and operational technologies can be used to minimise the technology risk and achieve the projects’ timely commissioning. Projects under construction and not having any PPA with existing buyers were also eligible to participate in the tender. Projects that were under construction and did not have a PPA with an existing buyer were also eligible to participate in the tender. Subject to the availability of spare capacity for renewable energy integration at the associated Gujarat Energy Transmission Corporation (GETCO) substation, solar projects will be permitted to be installed in the existing wind farms that are already connected to the grid.

GET ACCESS TO OUR ARTICLES

Enter your email address