GUVNL

New incentive scheme will see state government offering up to 40% subsidy towards cost of residential solar systems with the aim of adding 8 lakh of new arrays by 2022.

The NYSE-listed developer appears to have turned the corner after reporting a full year profit of Rs138,493 after a Rs10 lakh loss a year ago. Borrowings are on the rise though, as the company plans to drum up an ever larger project portfolio.

Gujarati utility GUVNL hoped to allocate 1 GW of capacity at the solar park but ended up awarding just a quarter of that figure, with Tata Power Renewable Energy the beneficiary. A bid for 50 MW of capacity by the state-owned Gujarat Industries Power Company Ltd was rejected.

The procurement – for PV capacity at the Dholera Solar Park – attracted bids for just 300 MW as developers shunned a tariff ceiling of Rs2.75/kWh.

Reduction in solar park charges was not enough to attract developers in the same numbers that flocked to a separate 500 MW exercise two months earlier. The Raghanesda Solar Park continues to be a headache after a previous attempt was cancelled because the tariffs were deemed too costly.

Aggressive bidding secures price of Rs2.55 for U.S. company in a procurement exercise whose results are unlikely to see GUVNL throw its toys out of the pram.

Gujarat Electricity Regulatory Commission (GERC) has allowed Gujarat Urja Vikas Nigam Ltd (GUVNL) to procure 2.7 MW solar power generated by salt pan workers of Self-Employed Women Association (SEWA) during off-season.

Prices ranging from Rs2.84-2.89 have been deemed too costly by the state as the foreign developers who posted the lowest bids blamed high charges at the Raghanesda Solar Park where the projects had to be based.

Head of industrial conglomerate makes pledge at Vibrant Gujarat Summit as part of his company’s ambition to install 10 GW of renewables capacity by 2022.

Developers gave short shrift to gloomy predictions about depreciation, protectionism and tax headwinds as tendering and auction figures soared, but they shied away from the tough price caps set for SECI’s procurement exercises.