Gujarat Urja Vikas Nigam Limited (GUVNL) has announced the winners of its 250 MW grid-connected solar power projects (Phase XXVI) auction, with an additional greenshoe option of 250 MW. The winning bidders include Avaada Energy, which secured 100 MW, SAEL Industries, which won 100 MW out of its quoted capacity of 200 MW, and Welspun Renewable Energy secured 50 MW. All the winning bids were won at a tariff of Rs 2.60 per kWh. The tender was floated in January 2024, and eligible projects included those under construction, yet to be commissioned, or already commissioned but without a long-term power purchase agreement (PPA). Projects with existing commitments under central or state programmes were excluded.
The auction allowed projects to be located anywhere in India, with inter-connection required through a Central Transmission Utility or Gujarat Energy Transmission Corporation substation. Bidders were required to offer a minimum capacity of 50 MW for interstate-connected projects and 10 MW for state transmission utility-connected projects. Additionally, successful bidders must maintain a minimum capacity utilisation factor of 22 per cent. Any shortfall in energy availability will require compensation to GUVNL at 150 per cent of the PPA tariff.
GUVNL will sign a 25-year PPA with the selected bidders, ensuring long-term energy procurement. To minimise technological risks and ensure timely commissioning, only commercially established and operational technologies were permitted. The bidders were required to specify their chosen technology at the time of submission.
