Gujarat allocates 500 MW solar at $0.032/kWh

Avaada, BluPine Energy, Hinduja Renewable Energy, KPI Green and NRC Industries have emerged winners in Gujarat Urja Vikas Nigam Ltd’s tender for 500 MW of grid-connected solar with greenshoe option of additional 500 MW.

June 11, 2024 Uma Gupta

Image: Goran Tek-en, Wikimedia Commons

Gujarat Urja Vikas Nigam Ltd (GUVNL) has allocated 500 MW of solar capacity at an average price of INR 2.7 ($0.032)/kWh under its Phase XXIV tender of 500 MW with greenshoe option of additional 500 MW.

KPI Green quoted the lowest price of INR 2.67/kWh, securing its full bid-out capacity of 120 MW. Avaada secured 200 MW at INR 2.68/kWh, and BluPine Energy 40 MW at INR 2.69/kWh. Hinduja Renewable Energy secured 130 MW and NRC Industries 10 MW at INR 2.72/kWh each.

The winning developers can set up the grid-connected projects anywhere in India for power supply to GUVNL under a power purchase agreement for 25 years.

“PV modules used in these solar power plants must be warranted for peak output wattage, which should not be less than 90% at the end of 10 years and 80% at the end of 25 years from the commencement-of-supply date of the project,” as per the tender document.

Further, the developers are required to ensure that all PV modules used in the plants are disposed in accordance with the e-waste (Management and Handling) Rules, 2011 after their ‘end of life’.

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