22 March 2022
Auction Winners Bid at Rs 2.29/unit For 500 MW GUVNL solar auction
In bids that continue to surprise, the Gujarat Urja Vikas Nigam Limited’s (GUVNL) January tender for 500 MW of solar power has attracted a very aggressive set of bids from the 4 winners declared. Fortum (through Alpha Energy- 200 MW), SJVN (100 MW), Hinduja Renewable Energy (120 MW) and UPC Renewables (80 MW) have bid, and won the 500 MW capacity on offer.
With every indicator and report confirming an increase in the cost of large solar projects, these bids can be considered a significant surprise, although GUVNL will hardly be complaining. The state distributor has been aggressive in its tenders in the past few months, with tenders across the spectrum, including under PMKUSUM being floated in the recent past.
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