Prozeal, Kintech And SAEL Among 7 To Secure GUVNL’s 500 MW Solar Auction

GUVNL recently announced seven winners of its 500 MW grid-connected solar power projects with an additional 500 MW greenshoe option. Under its Phase XXV auction, it allocated bids to S.B.B. Mouldings, Kintech Synergy, Enertech Fuel Solutions, Prozeal Green Energy, Ausom Enterprise, Drashta Green Power, and SAEL Industries. The tender for this project was released in August this year, and the result was declared within four months. As expected, the final price has remained sticky, staying above Rs 2.55/unit with the full impact of ALMM and DCR conditions to fulfil.

GUVNL awarded the project at a tariff of ₹2.55/kWh to Prozeal, Kintech, Ausom, Enertech, S.B.B., and Drashta for 100 MW, 50 MW, 50 MW, 40 MW, 10 MW, and 10 MW, respectively. Meanwhile, SAEL secured 240 MW at ₹2.56/kWh under the bucket-filling method. Additionally, Kintech, Enertech, Drashta, and SAEL were awarded the project with an additional greenshoe capacity of 50 MW, 203 MW, 7 MW, and 240 MW, respectively.

GUVNL’s Solar Project Tariff Dropped From ₹2.67/unit to ₹2.55/kWh

The tariff awarded for this project is lower than GUVNL’s previous 500 MW solar project, which was awarded at the lowest tariff of ₹2.67/unit to Surat-based KPI Green Energy. Other winners included Avaada Energy (₹2.68), Solarcraft Power India-BluPine (₹2.69), Hinduja Renewables, and NRC Industries (₹2.72).

Previously, under GUVNL’s XXIV tender, KPI Green won 120 MW under the bucket-filling method, Avaada received a 200 MW allotment, and Hinduja Renewables secured a 130 MW allotment. Solarcraft from BluPine won 40 MW, leaving the final 10 MW for NRC Industries.

The Gujarat-based solar company, Prozeal Green Energy added another feather in the cap by winning this project in its home state. The company earlier this year, secured a solar plus battery energy storage project at Leh. The solar EPC company Prozeal Green Energy won the Solar Energy Corporation of India Ltd.’s (SECI) tender for the design, engineering, supply, construction, erection, testing, commissioning, and operation and maintenance of the 25 MW (AC) Solar PV Power Plant (50 MWp) with a 20 MW/50 MWh battery energy storage system at Taru, Leh.