Hinduja Renewables has won 140 MW solar power capacity in an auction by GUVNL. It secured the capacity by quoting a tariff of INR 2.64/kWh. GUVNL may allot an additional capacity of 140 MW to Hinduja by exercising the Greenshoe option.
The project is part of the Solar Tender Phase -XXII issued by GUVNL for the selection of solar power developers to set up 500 MW of solar power projects anywhere in India. Hinduja Renewables was one of the four winning developers under this tender which saw participation from leading private-sector power producers.
Sumit Pandey, CEO of Hinduja Renewables, said, “With this achievement, Hinduja Renewables will operate with a capacity of 1.5+ GW in the country in the coming few years.”
Hinduja Renewables, part of the Hinduja Group, plans to grow through both organic and inorganic means in renewable energy and emerging sustainable energy technologies in distributed and utility segments. It is seeking opportunities in hybrid renewable projects, energy storage systems, green hydrogen generation (or value chain), and offshore wind. Today, it operates a portfolio of solar power plants spread across the country and aims to grow to a multi-GW capacity in the next few years.
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