GUVNL declares winners of its 500 MW solar auction

Results for Gujarat Urja Vikas Nigam Limited’s (GUVNL) auction to develop 500 MW of grid-connected solar power projects, phase XXII, have been announced. The tender for the project was issued in November 2023. To be located anywhere in India, the project was tendered with an additional greenshoe option of 500 MW. By quoting Rs 2.63 per kWh and Rs 2.64 per kWh, SJVN Green Energy Limited and Hinduja Renewables Energy have won 100 MW and 140 MW, respectively. While Avaada Energy and Blupine Energy have won 100 MW and 50 MW by quoting Rs 2.65 per kWh. Of the total tendered capacity, only 390 MW was auctioned. Furthermore, GUVNL has mandated the use of indigenously manufactured solar modules listed in the Approved List of Models and Manufacturers.