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GUVNL Concludes 250 MW Solar Auction at Rs2.60/kWh

Gujarat Urja Vikas Nigam Limited (GUVNL) has successfully completed a 250 MW grid-connected solar PV auction, with a greenshoe option for an additional 250 MW. The winning tariff for all awarded capacity was Rs2.60 per kWh.

Winning Contracts Overview

• Avaada Energy won 100 MW at Rs2.60/kWh.
• SAEL Industries secured 100 MW at Rs2.60/kWh.
• Welspun Renewable Energy obtained 50 MW at Rs2.60/kWh.

Auction Details

• GUVNL issued the Request for Selection (RfS) in January 2024.
• The selection process involved competitive bidding followed by a reverse e-auction.
• Bidders could submit projects that were under construction, already commissioned, or newly planned anywhere in India.
• Minimum bid requirements:
  • 50 MW for interstate-connected projects.
  • 10 MW for State Transmission Utility (STU) connected projects.
• The greenshoe option allowed for capacity expansion by up to 250 MW if required.