GUVNL

The 25 MW solar project acquired by Torrent Power benefits from a a 25-year power purchase agreement with Gujarat Urja Vikas Nigam Ltd. Reliance New Energy Solar Ltd, a wholly-owned unit of Reliance Industries Ltd, now holds 40% of the total paid-up equity share capital of Sterling & Wilson Solar following acquisition of a further stake from its promoters. 

Bidders have until February 1 to apply for the engineering, procurement, and construction of 220 MW of grid-connected solar projects anywhere in Gujarat.

Solar power generators have until February 3 to bid for supplying the power from their proposed or under-construction PV projects under a 25-year PPA. 

The solar plant, spread across 380 hectares in the Raghanesda Solar Park, is Engie’s second-largest PV project in India. It was completed within the schedule, despite the multiple challenges during the Covid pandemic.

The State-owned hydropower producer will sell the electricity generated from the solar project to Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) under a 25-year power purchase agreement. Tariff is fixed at INR 2.68/kWh (US$0.037/kWh).

In its maiden venture into solar power generation, state-run Coal India Limited will set up a 100 MW plant and sell the electricity produced to Gujarat Urja Vikas Nigam Ltd for 25 years.

The Indian developer has followed up the commissioning of a 110 MW solar plant in Rajasthan earlier this month with a 105 MW PV farm in Gujarat. The Gujarat plant will supply electricity to state Discom Gujarat Urja Vikas Nigam Limited (GUVNL) at a tariff of INR 2.68/kWh (US$0.036/kWh).

Bidders have until April 15 to lodge their interest in the grid-connected solar project, which must be commissioned within a year from the award of contract. Operation and maintenance of the plant for five years also falls under the bidder’s scope.  

JMK Research analysts attribute the comparatively lower tariffs to good ratings of the Gujarat State Discom Gujarat Urja Vikas Nigam Limited, choice of project location for developers, and anticipation that mono PERC module prices would fall 10-15% by 2022.

Tata Power, TEQ Green Power, and Vena Energy Renewables Urja have approached the Delhi-based Appellate Tribunal for Electricity (APTEL) seeking interim relief against the Gujarat Electricity Regulatory Commission’s order allowing retendering of the awarded solar capacity.