KPI Green Energy Leads Winning Bidders With Rs 3.33 Bid For GUVNL Hybrid Auction

Gujarat Urja Vikas Nigam Limited (GUVNL)'s 500 MW wind solar hybrid auction finally has a list of winning bidders, with an attractive price of Rs 3.33 achieved after the while process. Surat based KPI Green Energy led with the lowest bid, followed by Juniper Green Energy with a Rs 3.34 bid. JSW Green Energy and Hinduja Renewables rounded off the list with bids at Rs 3.39 each. The latter two however, won larger allotments at 180 MW for JSW Energy and 150 MW for Hinduja Renewables. Juniper won 120 MW , while KPI was allotted 50 MW.

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Despite a 500 MW greenshoe option, GUVNL did not exercise that. In case it does, then potentially, allotments for the winners could double, where acceptable to them.

The tender, floated in February this year, has done well to attract pricing within the range that was expected by industry watchers. For KPI Green, while the winning bid might seem low, the firm has been looking to expand outside the Captive segment aggressively, and the latest win in its home state will be well within its comfort zone.

GUVNL has typically managed strong bidding and some of the best prices after SECI or even NTPC, and the latest results are in line with those trends. What it also means is that keeping with the same trends, most other states that have been active recently, be it the Maharashtra based discoms, Rajasthan, and many ithers that will pick up the pace now, can expect bid prices in the range of Rs 3.40 to Rs 3.80 going ahead. For Hybrid projects.