ReNew Power Bags 200 MW of GUVNL’s 500 MW Tender; Solarcraft, Mahindra Susten, Avaada Energy Other Winners

GUVNL Looks to Procure 500 MW Hybrid Renewable Energy with 500 MW

Gujarat Urja Vikas Nigam’s (GUVNL) tender, floated in February this year, for the supply of power from 500 MW of grid-connected solar projects (Phase XIX) has been won by ReNew Power, Solarcraft Power, Mahindra Susten, and Avaada Energy.

Capacities & Tariff

ReNew Solar Power bagged the highest capacity of 200 MW. It had quoted Rs 2.71 (~$0.0333) per kWh. Avaada Energy won 140 MW at Rs 2.75 (~$0.0335) per kWh. Mahindra Susten claimed 100 MW while Solarcraft Power bagged 60 MW. The tariff for these was Rs 2.74 per kWh.

Recently, the GUVNL also now awarded a 200 MW solar power project to Avaada Energy, an arm of Avaada Group. The project contract was given at a tariff of Rs 2.75 per Kilo-Watt-Hour (KwH).

Earlier this month, Avaada also bagged a 560 MW solar energy project to supply renewable power to the Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) at a quoted rate of Rs 2.88 per KwH. On April 3, the company also announced bagging a 470 MW solar project from Damodar Valley Corporation at Rs 2.70 per KwH.

The developers can establish projects in India. The tender comes with a greenshoe option of an additional 500 MW.

The bidders that have emerged successful will enter into PPAs with GUVNL in 30 days from the date that the letter of intent is issued.

GUVNL said in the notification that it intends to procure solar power up to capacity of 500 MW (Phase XIX) and additional upto 500 MW of power under Greenshoe option in order to fulfill the renewable power purchase obligation (RPPO) and to meet the future requirements of Discoms.

GUVNL said that the project should be designed for delivery of energy at GETCO periphery. The Bidders are required to obtain necessary clearances and permits as required for setting up the Solar Power Projects.

Solar Projects will also be allowed to be set up in the existing Wind Farm which is already connected to the grid.

The declared annual CUF shall in no case be less than 17%, says GUVNL. Successful Bidder shall maintain generation so as to achieve annual CUF within + 10% and -15% of the declared value till the end of 10 years from COD, subject to the annual CUF remaining minimum of 15%, and within +10% and – 20% of the declared value of the annual CUF thereafter till the end of the PPA duration of 25 years.

It may be recalled that GUVNL had earlier auctioned 500 MW of solar and 300 MW of wind capacities. In the solar power auction, Sprng Energy (200 MW), ib Vogt Singapore (130 MW), Hinduja Renewables (120 MW) and Blupine (Solarcraft Power India)  (50 MW) walked away with allotments. In wind energy auctions, Juniper Green Energy, WYN Renewables, EDF Renewables, ACME Pokharan Solar and Solarcraft Power India emerged as winners.