GUVNL Awards 1,125 MW Solar Tender to Engie, NHPC, JSW Neo Energy, SJVN, and NTPC Renewable at ₹2.62/kWh as Lowest Bid

In a significant development in India’s renewable energy sector, Gujarat Urja Vikas Nigam Ltd (GUVNL) has successfully completed the allotment of a 1,125 MW solar power project. The tender saw an average winning tariff of ₹2.65 per kWh, marking a competitive milestone in the industry. The projects have been awarded to prominent energy firms, indicating a strong push towards sustainable power generation in Gujarat.

Engie, a global energy player, emerged as one of the winning bidders by securing a 200 MW project at the lowest quoted tariff of ₹2.62/kWh. Meanwhile, JSW Neo Energy won the largest share of the tender, being awarded 300 MW at a slightly higher rate of ₹2.66/kWh. Both NHPC and SJVN successfully bid for 200 MW each at this same rate, while NTPC Renewable Energy rounded off the list of winners with a 225 MW project at ₹2.67/kWh.

The awarded solar photovoltaic (PV) projects are slated for development in the Gujarat State Electricity Corporation Limited (GSECL) Solar Park located at Khavda, Gujarat. The terms of the tender stipulate that the projects will be constructed on a build-own-operate (BOO) basis. Under a 25-year power purchase agreement, the generated electricity will be supplied to GUVNL, ensuring a long-term commitment to renewable energy in the region.

This tender reflects the growing competitiveness and attractiveness of solar energy in India’s energy market, positioning Gujarat as a key player in the country’s renewable energy expansion.