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GUVNL Picks SJVN, UPC Renewables, Hinduja & Fortum For 500 MW Solar Projects Development

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The Gujarat Urja Vikas Nigam’s (GUVNL) auction to acquire power from 500 MW of grid-connected solar projects was won by SJVN, UPC Renewables (AMSA Solar Energy), Fortum Power (Alpha Energy), and Hinduja Renewable Energy (Phase-XIII).

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SJVN won 100 MW of capacity, Fortum Power got 200 MW, and UPC Renewables received 80 MW at a rate of Rs 2.29/kWh. Hinduja Renewables was awarded 120 MW using the bucket filling process at a cost of Rs 2.29/kWh.

Solar projects might be built-in existing grid-connected wind farms if the spare capacity for renewable energy integration is available at the substations of the associated Gujarat Energy Transmission Corporation (GETCO) or Central Transmission Utility of India (CTUI).

In January of this year, the GUVNL had issued a tender to acquire power from 500 MW of grid-connected solar power projects (Phase- XIII).

GUVNL planned to acquire solar electricity with a capacity of up to 500 MW to satisfy the renewable power purchase obligation (RPO) for distribution firms’ future needs. Construction projects without a power purchase agreement (PPA) were also allowed to participate in the offer.

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GUVNL may elect to engage in a PPA with winning bidders for a period of 25 years beginning with the project’s projected commercial operation date.

According to GUVNL, the announced annual capacity utilization factor (CUF) shall never be less than 17 percent. The selected bidder must maintain generation to achieve annual CUF within +10% and -15% of the stated value during the first ten years of commercial operation, with the annual CUF staying 15 percent and within +10% and -20% of the declared CUF after that until the end of the PPA period.

The lowest offered tariff increased by 4% in this auction over GUVNL’s last auction (Phase XII) for 500 MW of solar projects. The auction yielded the lowest pricing of Rs 2.20/kWh.

The auction was conducted in March 2021, and the winners were NTPC Renewable Energy,  Coal India, Sprng, Ujjvala Energy, and TP Surya – a Tata Power affiliate.

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