Alfanar, Juniper, and RIH Secure 164 MW in GUVNL's 500 MW Wind Auction
The auction, initiated in July 2023, featured a greenshoe option for an additional 500 MW.
January 03, 2024. By Abha Rustagi
In a recent auction by Gujarat Urja Vikas Nigam Limited (GUVNL) for the establishment of 500 MW grid-connected wind power projects in India (Phase VI), Alfanar Power, Juniper Green Energy, and RIH Renewables have emerged as winners.
The auction, initiated in July 2023, featured a greenshoe option for an additional 500 MW. Alfanar secured 50 MW quoting the lowest tariff at INR 3.42/kWh, followed by Juniper Green Energy winning 90 MW with a tariff of INR 3.44/kWh. RIH Renewables secured 24 MW out of the 40 MW bid, quoting INR 3.45/kWh. Despite a total bid capacity of 500 MW, only 164 MW was allocated.
The auction, initiated in July 2023, featured a greenshoe option for an additional 500 MW. Alfanar secured 50 MW quoting the lowest tariff at INR 3.42/kWh, followed by Juniper Green Energy winning 90 MW with a tariff of INR 3.44/kWh. RIH Renewables secured 24 MW out of the 40 MW bid, quoting INR 3.45/kWh. Despite a total bid capacity of 500 MW, only 164 MW was allocated.
Winning bidders have the discretion to choose project locations within India, bearing associated responsibilities, costs, and risks. As per the Request for Selection (RfS), intra-state wind projects should have a minimum capacity of 25 MW, while inter-state projects should have a minimum capacity of 50 MW.
Bidders were required to pay a non-refundable bid processing fee of INR 3 lakhs plus 18 percent Goods and Service Tax (GST). Additionally, an earnest money deposit of INR 1 crore per MW of quoted capacity was mandated.
Upon successful bidding, selected developers must provide a performance bank guarantee of INR 2 crores per MW of allocated capacity at the time of signing the 25-year Power Purchase Agreement (PPA).
The responsibility for designing the interconnection with either the state transmission utility or central transmission utility lies with the wind project developer.
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