Gujarat Discoms To Get 500 MW Of Solar Power At Rs 2.51/unit 

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Electricity distribution companies in Gujarat are all set to get green energy from its 500 Megawatt (MW) grid-connected solar projects in the state with a tariff of Rs 2.51 to Rs 2.52 per unit. The Gujarat Electricity Regulatory Commission (GERC) recently approved these tariffs. 

It comes after the Gujarat Urja Vikas Nigam Ltd (GUVNL) moved a petition before the Commission seeking approval of the tariffs. GUVNL, earlier in 2022, floated a tender through competitive bidding for procurement of 500 MW grid-connected power from solar PV projects with a Greenshoe option. 

Four players were declared winners based on the bids, with the Sprng Green Power Private Limited quoting the lowest of Rs 2.51 per unit. Three other companies, namely-IB Vogt Singapore Pte Limited, Hinduja RE Private Limited, and Solarcraft Power India 9 Private Limited, won the tender with their rates at Rs 2.52 per unit. 

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The project’s Scheduled Commercial Operation Date (SCOD) was 18 months from the date of execution of the PPA by the project developer with GUVNL. 

As per the final order of the GERC, for the base capacity of 500 MW, the four successful bidders can give the solar power at the rate of Rs 2.51/unit (for Sprng Green) and the other three at Rs 2.52/unit. However, for the additional combined 360 MW of Greenshoe capacity, all four players would give the green energy at Rs 2.51 per unit. 

Earlier, GUVNL, in another tender floated on July 12, 2022, discovered a tariff of Rs 2.49 per unit. GUVNL, which filed the petition on behalf of the four state discoms, also said that it needed to procure these renewable energies to fulfill its Renewable Purchase Obligations (RPOs). 

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As per the direction of GERC, obligated entities in Gujarat have an RPO of 18.70% for 2023-24 and 20.70% during 2024-25. It includes the highest purchase obligation from solar energy, followed by wind energy.

In addition, during 2023-24 and 2024-25, the Hydro Purchase Obligation (HPO) was also included under the ambit of RPO. Conversely, the share combined share of biofuel, micro hydel, cogeneration, and power from bagasse under RPO increased from 0.75% to 0.80 in 2024-25.