SJVN, Hinduja among 5 Winners in GUVNL's 500 MW Solar Phase-XXII Auction
The reverse auction held on December 26, 2023, witnessed significant participation from leading companies in the solar power sector.
December 27, 2023. By Abha Rustagi
The reverse auction held on December 26, 2023, witnessed significant participation from leading companies in the solar power sector.
The opening of the L1 tariff, a crucial factor in determining competitiveness, kicked off at INR 2.63/kWh. This set the stage for a spirited reverse auction, where participants aimed to provide the most favorable tariffs for the available solar power capacity.
| Tender Inviting Agency | Gujarat Urja Vikas Nigam Limited |
| Technology Type/Tranche | Solar/Phase-XXII with Green Shoe Option |
| Tendered Capacity | 500 MW |
| Date of Reverse Auction | 26.12.2023 |
| Opening L1 Tariff (INR/kWh) | 2.63 |
| S.No | Name of Bidder | Bid Capacity (MW) | Awarded Capacity (MW) | Final Tariff (INR/kWh) |
| 1 | SJVN Green Energy Limited | 100 | 100 | 2.63 |
| 2 | Hinduja Renewables Energy Pvt. Ltd | 140 | 140 | 2.64 |
| 3 | Avaada Energy Private Limited | 100 | 100 | 2.65 |
| 4 | Solarcraft Power India 5 Pvt. Ltd. | 50 | 50 | 2.65 |
| 5 | Sprng Energy Private Limited | 150 | 110 | 2.66 |
SJVN Green Energy Limited (SGEL) emerged as a major winner, securing the entire bid capacity of 100 MW at the opening L1 tariff of 2.63 INR/kWh. Hinduja Renewables Energy Pvt. Ltd. secured 140 MW at a slightly higher tariff of 2.64 INR/kWh, while Avaada Energy Private Limited was awarded 100 MW at a tariff of 2.65 INR/kWh.
Solarcraft Power India 5 Pvt. Ltd. secured a bid capacity of 50 MW at the tariff of 2.65 INR/kWh. Finally, Sprng Energy Private Limited was awarded 110 MW out of their bid capacity of 150 MW at a tariff of 2.66 INR/kWh.
The results highlight a fiercely competitive landscape in the solar power sector, with companies strategically presenting economically viable tariffs.
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