Triumph for SJVN Green, SAEL and Coal India: GUVNL’s 600 MW Solar Auction Achieves Success with INR 2.54/kWh Leading Bid

In a recent development in the renewable energy sector, Gujarat Urja Vikas Nigam Ltd. successfully conducted a reverse auction for the Solar/P-XXI Tranche at GIPCL RE Park Khavda, with a tendered capacity of 600 MW. The highly anticipated event took place on January 25, 2024, revealing promising results for the future of solar power in the region.

The opening of the L1 tariff set the tone for the competitive bidding process, with a notable figure of INR 2.65 per kWh. Among the bidders, SJVN Green Energy Limited secured an impressive 100 MW, clinching the top spot with a final tariff of INR 2.54 per kWh. Following closely, SAEL Industries Limited secured 200 MW at a final tariff of INR 2.55 per kWh. Coal India Limited, with a bid capacity of 600 MW, was awarded 300 MW at the same tariff of INR 2.55 per kWh.

Solairedirect Energy India Pvt. Ltd. participated with a bid capacity of 300 MW but did not secure any capacity. Their bid price stood at INR 2.56 per kWh, reflecting the competitive nature of the auction.

This successful reverse auction not only demonstrates the growing interest and investment in solar energy but also highlights the commitment of key players in the industry to contribute significantly to Gujarat’s renewable energy landscape. The awarded capacities and competitive tariffs signal a positive trajectory for sustainable energy development in the state.

GUVNL initiated the tender in July of the preceding year.