Juniper Green and KPI Green Secure GUVNL’s Wind-Solar Hybrid Project

Juniper Green and KPI Green Secure GUVNL’s Wind-Solar Hybrid Project. Photo: Pexels

Renewable Energy companies Juniper Green Energy Private Limited and KPI Green Energy Private Limited have been awarded the project for establishing 200 MW capacity, part of a 500 MW grid-connected wind-solar hybrid power project in Gujarat. The allocation was done by Gujarat Urja Vikas Nigam Limited (GUVNL).

Another 500 MW allocation of the project will be done through the greenshoe option. The auction for the bid mentioned above had 280 MW getting auctioned while 200 MW was awarded. Juniper Green Energy secured a contract for 150 MW at Rs Rs 3.04 per kWh while KPI Green Energy secured a 50 MW project with a price of Rs 2.99 per kWh.

Both the energy companies will have to build the hybrid renewable project on a build-own-operate basis including managing a transmission network as well. Further, GUVNL will sign power purchase agreements with both developers for 25 years pertaining to the project.

In November last year, GUVNL issued the tender and invited bids for the purchase of power through a competitive bidding process (followed by reverse e-auction) from 500 MW grid-connected solar PV power projects without energy storage to be set up/ under construction/ already commissioned projects anywhere in India. The GUVNL tender comes with a greenshoe option of additional capacity up to 500 MW.

Last month, Hinduja Renewables, won a bid to set up 140 (MW) solar power capacity at a rate of Rs 2.64/unit through GUVNL tender issued for the same project.

According to a report by Union Ministry of New and Renewable Energy (MNRE), Gujarat contributes 30 percent of the total rooftop solar installments in the country that has crossed 10 GW. The cumulative Roof Top Solar (RTS) installed capacity increased to 10.4 GW as of November 30, 2023. Of the total capacity, Gujarat’s share was 3.2 GW, followed by Maharashtra at 1.9 GW and Rajasthan at 1.1 GW capacity.