GUVNL Gets INR 2.78/kWh Lowest Tariff In 700 MW Auction

• GUVNL has determined INR 2.78 per kWh as the lowest winning bid for 700 MW Dholera Solar Park Phase IX
• Both Vena Energy Renewables and Tata Power won 100 MW each for the lowest winning bid
• ReNew Power and TEQ Green Power won 200 MW each while SJVN had to settle with 100 MW

Gujarat Urja Vikas Nigam Limited (GUVNL) has selected the winners for the 700 MW tender for the Dholera Solar Park (Phase IX) with local media reporting  INR 2.78 ($0.037) per kWh as the lowest winning tariff. Vena Energy Renewables and Tata Power both bid INR 2.78 per kWh to win 100 MW each.

The 700 MW capacity was part of a 1 GW tender originally launched in January 2019 and was retendered in March 2020 with INR 2.92 per kWh as the ceiling tariff (see GUVNL Re-Tenders 700 MW Solar Capacity For Dholera Solar Park).

The other capacity was distributed between ReNew Power that claimed 200 MW for INR 2.79 ($0.037) per kWh, Indian hydroelectric power generator SJVN Limited got 100 MW for INR 2.80 ($0.037) per kWh, while 200 MW for the highest winning bid of INR 2.81 ($0.038) per kWh went to TEQ Green Power, a subsidiary of O2 Power— the renewable energy platform of EQT Infrastructure and Temasek.

Mercom previously reported the 700 MW tender was oversubscribed by 600 MW. In its Q2/2020 India Solar Market Update, Mercom said till the end of June 2020 India had 34 GW of tendered capacity pending auctions along with a large scale project pipeline of 42 GW. India installed only 205 MW in Q2/2020 due to the pandemic related challenges (see Only 205 MW PV Installed In India During Q2/2020).