GUVNL Awards 500 MW Solar Projects in Latest Auction; KPI Green, Avaada, and Hinduja Among Top Winners

Gujarat Urja Vikas Nigam Limited (GUVNL) has announced the winners of its recent auction for 500 MW of grid-connected solar power projects, with an additional 500 MW greenshoe option (Phase XXIV). 

KPI Green Energy emerged as a major winner, securing 120 MW at a competitive INR 2.67/kWh tariff. Avaada Energy clinched 200 MW with a bid of INR 2.68/kWh, while Solarcraft Power India - BluPine Energy was awarded 40 MW at INR 2.69/kWh. NRC Industries gained 10 MW by quoting INR 2.72/kWh, and Hinduja Renewables secured 130 MW out of their quoted 300 MW capacity at INR 2.72/kWh under the bucket-filling method.

GUVNL has mandated that all solar modules used in these projects must be listed in the Approved List of Models and Manufacturers by the Ministry of New and Renewable Energy. The tender is open to projects at various stages, including those under construction, yet to be commissioned, or already commissioned without long-term power purchase agreements, and currently selling power on a short-term or merchant basis. These projects must not have been accepted under other central or state programs and should have no existing buyer obligations. 

Additionally, the solar projects can be developed within existing grid-connected wind farms, provided there is spare capacity 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.