GUVNL allocates 500 MW hybrid wind-solar at $0.040/kWh

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Gujarat Urja Vikas Nigam Ltd (GUVNL) has allocated 500 MW of hybrid wind-solar projects at an average price of INR 3.36 ($0.040)/kWh, in its tender for 500 MW hybrid RE projects with green shoe option of additional 500 MW.

KPI Green bid for 50 MW and won the capacity by quoting the lowest tariff of INR 3.33/kWh. Juniper Green Energy secured 120 MW at INR 3.34/kWh. The balance capacity of 330 MW is allocated to JSW Energy (180 MW) and Hinduja Renewables (150 MW) at a price of INR 3.39/kWh each.

The successful bidder will set up grid-connected hybrid RE power projects on a build-own-operate basis. The projects may be setup anywhere in India. GUVNL will enter into a 25-year power purchase agreement with the successful bidders

GUVNL may allocate and tie-up additional capacity up to 500 MW under ‘Greenshoe Option.’

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