Winners declared for GUVNL’s 500 MW solar auction

Gujarat Urja Vikas Nigam’s (GUVNL) auction for 500 MW of grid-connected solar projects (Phase XIX) has been won by ReNew, Solarcraft Power, Mahindra Susten, and Avaada Energy. The developers can build projects anywhere in India and take advantage of a 500 MW greenshoe option. ReNew Solar Power was awarded 200 MW with a quote of Rs 2.71 per kWh. Under the bucket-filling process, Avaada Energy got 140 MW at Rs 2.75 per kWh out of a quoted capacity of 500 MW. Mahindra Susten and Solarcraft Power were awarded 100 MW and 60 MW at a rate of Rs 2.74 per kWh, respectively.

This tender was announced in February 2023. The successful bidders will be required to sign power purchase agreements with GUVNL within 30 days of the letter of intent being issued. The tender stated that only commercially established technologies can be utilised to reduce technical risk and ensure project completion on schedule.

In February 2023, Juniper Green Energy, WYN Renewables (EDF Renewables), ACME Pokharan Solar, and Solarcraft Power India won GUVNL’s auction to supply power from 300 MW of grid-connected wind projects (Phase-IV) with an additional 300 MW greenshoe option.

In January 2023, Sprng Energy, IB Vogt, Hinduja Renewables, and Blupine Energy have won GUVNL’s auction to deliver power from 500 MW of grid-connected solar power projects (Tranche XVIII), with an additional 500 MW greenshoe option.