GUVNL announces result for its 800 MW solar power projects

The winners of Gujarat Urja Vikas Nigam Limited’s tender for 800 MW of solar power with an extra 800 MW under the greenshoe option are announced. The winning companies include SAEL Industries, NLC India, and KPI Green Energy. The selected developers will build and operate solar power plants at Khavda Solar Park. SAEL Industries obtained 400 MW and NLC India obtained 300 MW at a rate of Rs 2.71 per kWh. KPI Green Energy was awarded 100 MW at Rs 2.70 per kWh.

SAEL, headquartered in Punjab, develops and operates solar and agricultural waste-to-energy plants. It currently has a solar portfolio of approximately 600 MW and plans to add 400 MW of additional PV capacity per year over the next five years.

In May 2023, GUVNL awarded its auction to deliver power from 600 MW of grid-connected solar power projects (Phase XVII) at the Khavda Solar Park in Gujarat to  NHPC, SJVN Green Energy, and NTPC Renewable Energy. The auction has a greenshoe option of 600 MW available to the developers. NHPC won a capacity of 200 MW by quoting Rs 2.73 per kWh. SJVN Green Energy was awarded a capacity of 200 MW at Rs 2.88 per kWh. NTPC Renewable Energy got 200 MW of the 400 MW specified capacity using the bucket-filling method, quoting Rs 2.89 per kWh.

In April 2023, GUVNL auction for 500 MW of grid-connected solar projects (Phase XIX) was won by ReNew, Solarcraft Power, Mahindra Susten, and Avaada Energy.