In a recent auction held by the Gujarat Urja Vikas Nigam (GUVNL), ReNew Power, Solarcraft Power, Mahindra Susten, and Avaada Energy won the rights to supply power from 500 MW of grid-connected solar projects (Phase XIX).
The winning developers can construct the solar projects anywhere in India and have an option to develop an additional 500 MW.
ReNew Power won 200 MW by quoting a tariff of ₹2.71/kWh, while Avaada Energy won 140 MW at ₹2.75/kWh, and Mahindra Susten and Solarcraft Power won 100 MW and 60 MW, respectively, at a tariff of ₹2.74/kWh.
The project was awarded through a competitive bidding process and an e-reverse auction, and GUVNL will sign a 25-year Power Purchase Agreement with Mahindra Susten. The project is expected to be completed within 18 months.
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 has recently awarded contracts to ReNew Power, Solarcraft Power, Mahindra Susten, and Avaada Energy to build and operate 500 MW of grid-connected solar projects in India. The projects will contribute to India's renewable energy goals and are expected to be completed within 18 months. Learn more about the winning developers and the significance of this contract.){kind=link}