GUVNL’s Phase IV BESS Auction: Kintech, H.G. Infra, Bhilwara, And Advait Secure 500 MW At Record Tariffs

GUVNL’s Phase IV tender for standalone Battery Energy Storage Systems (BESS) has set a new benchmark with the discovery of an L1 tariff at ₹2.259 lakh per MW per month. The auction resulted in a total quoted capacity of 500 MW, with four companies emerging as winners. The tariff range for the successful bids varied between ₹2.259 lakh and ₹2.26 lakh per MW per month.

Kintech Synergy Limited secured a capacity of 100 MW with a tariff of ₹2.259 lakh per MW per month. H.G. Infra Engineering won the largest share with a 250 MW capacity, also quoting ₹2.259 lakh per MW per month. Bhilwara Energy matched this rate for a 100 MW capacity. Advait Infratech, meanwhile, quoted 50 MW at a slightly higher tariff of ₹2.26 lakh per MW per month.

The introduction of Viability Gap Funding (VGF) has played a significant role in lowering the tariffs for these projects. The initiative will be implemented under a Build-Own-Operate (BOO) model, and developers were selected through a global competitive bidding process based on tariffs. Initially, the tender was issued for 400 MW/800 MWh, with a greenshoe option for an additional 400 MW/800 MWh. Later, it was amended to increase the total capacity to 500 MW/1000 MWh, along with VGF support.

The BESS projects will be located near substations within the State Transmission Utility (STU) network. The Gujarat Energy Transmission Corporation (GETCO) will provide land on a Right-of-Use basis, leased at a nominal charge of ₹1 per plot annually. Developers are required to finalize the land agreement within 60 days of the BESPA’s effective date. Delays in land allocation will result in extended deadlines for financial closure and project commissioning.