In a recent development in the renewable energy sector, Gujarat Urja Vikas Nigam Ltd. conducted a tender for Wind-Solar Hybrid technology with a tendered capacity of 500 MW, out of which 280 MW was auctioned electronically on January 22, 2024 and only 200 MW was awarded. The competitive reverse auction saw key players vying for the opportunity to contribute to the renewable energy landscape.
The opening L1 tariff, a critical factor in the auction, was set at INR 2.99 per kWh.
KPI Green Energy secured a 50 MW project with a quoted rate of ₹2.99 per kilowatt-hour (KWh). Juniper Green Energy on the other hand, won a larger 150 MW contract at ₹3.04 per KWh. However, Avaada submitted a bid for 150 MW at ₹3.59 per kilowatt-hour, but the company did not secure any capacity.
The outcome reflects the competitive dynamics of the auction, where companies strategically bid for capacity while considering the critical factor of tariff rates.
This successful tender is expected to further bolster Gujarat’s renewable energy infrastructure, contributing significantly to the state’s commitment to sustainable and clean energy sources. The results highlight the continued interest and investments in the renewable energy sector, reinforcing the pivotal role it plays in the transition towards a greener and more sustainable future.
The tender was floated in November last year.
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