Mahindra Susten, a private-sector renewable power producer, has announced the signing of a 25-year power purchase agreement with Gujarat Urja Vikas Nigam Ltd (GUVNL) for a cumulative 200 MW solar capacity.
The project, connected to the interstate transmission grid, will supply electricity to GUVNL at an average price of INR 2.72 ($0.033)/kWh.
Mahindra Susten secured this capacity in GUVNL’s 500 MW Phase XIX solar auction by placing a winning bid for 100 MW with an additional 100 MW awarded under the greenshoe option.
This project is scheduled to be completed within 18 months. Once commissioned, it is estimated to generate around 450 million units annually from the first year onwards and over six billion units over a period of 25 years.
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