The auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL) for the development of 500 MW of solar power projects saw three firms — Aditya Birla (ABREL SPV2), Hinduja Renewable Energy and public sector undertaking Satluj Jal Vidyut Nigam (SJVN)— emerge as successful bidders.

While both Aditya Birla Group (300 MW) and Hinduja Renewables (120 MW) quoted a price of Rs 2.30 per unit. SJVN Limited ( 80 MW) quoted Rs 2.31 per unit. The trio emerged successful from a pool of about 11-odd firms who participated in the competitive bidding process.

The bid has a green shoe option of an additional 500 MW where additional quantum of solar energy can be procured from the bidders, stated an official release here Friday.

GUVNL intends to procure the solar power to fulfill its Renewable Power Purchase Obligation (RPPO) and meet the requirements of the electricity distribution companies of Gujarat.

The tender was floated this year and the green-shoe option will be allocated at a later date.

Earlier in January 2022, GUVNL had invited bids from developers to purchase electricity from 500 MW grid-connected solar power projects. Fortum Power, Hinduja Renewables, SJVN and UPC Renewables were declared the winners.

Courtesy: IE, HBL, Mercom