KPI Green, Avaada, BluPine, NRC and Hinduja Win GUVNL’s 500 MW Solar Auction

KPI Green Energy, Avaada Energy, Solarcraft Power India 5 (BluPine Energy), NRC Industries, and  Hinduja Renewables were declared winners in Gujarat Urja Vikas Nigam’s (GUVNL) auction to supply power from 500 MW grid-connected solar power projects with a 500 MW greenshoe option (Phase XXIV).

KPI Green won 120 MW at a tariff of ₹2.67 (~$0.0320)/kWh. Avaada quoted ₹2.68 (~$0.0321)/kWh to win 200 MW. BluPine won 40 MW at a tariff of ₹2.69 (~$0.0322)/kWh. NRC Industries quoted ₹2.72 (~$0.0326)/kWh to win 10 MW.

Hinduja Renewables won 130 MW out of the quoted capacity of 300 MW at 2.72 (~$0.0326)/ KWh under the bucket-filling method.

The tender was floated in March.

GUVNL had mandated the utilization of solar modules from the Approved List of Models and Manufacturers issued by the Ministry of New and Renewable Energy.

Projects in various stages, including those under construction, yet to be commissioned, or already commissioned without long-term power purchase agreements with any entity, and currently selling power on a short-term or merchant plant basis, will be considered under this tender.

However, these projects must not have been accepted under other central or state programs and should have no obligations towards existing buyers.

The solar projects can be established within existing grid-connected wind farms, provided spare capacity is available for renewable energy integration at the respective Gujarat Energy Transmission Corporation or central transmission utility substations.

Bidders must offer a minimum capacity of 50 MW for interstate-connected projects and 10 MW for projects connected to the state transmission utility.

GUVNL recently concluded the auction to supply power from 500 MW grid-connected wind-solar hybrid projects with a 500 MW greenshoe option. KPI Green quoted ₹3.33 (~$0.0399)/ KWh for 50 MW. Juniper won 120 MW at ₹3.34 (~$0.04) /kWh. Hinduja quoted ₹3.39 (~$0.0406)/ KWh for 150 MW.  JSW won 180 MW out of the quoted capacity of 200 MW at 3.39 (~$0.0406)/ KWh under the bucket-filling method.

Subscribe to Mercom’s India Solar Tender Tracker for timely updates on all solar tenders issued by various agencies in India.


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