GUVNL Awards 250 MW Solar Projects to Avaada, SAEL, and Welspun

Gujarat Urja Vikas Nigam Ltd. (GUVNL) has successfully conducted an auction for 250 MW of grid-connected solar photovoltaic (PV) projects, with a greenshoe option for an additional 250 MW. The auction concluded with a uniform winning tariff of INR 2.60 per kWh for all awarded capacities.

Three companies emerged as successful bidders in this competitive process. Avaada Energy and SAEL Industries each secured 100 MW at INR 2.60 per kWh, while Welspun Renewable Energy obtained 50 MW at the same tariff. Notably, all three companies submitted identical tariff bids, resulting in an evenly distributed allocation of the auctioned capacity.

The auction was held following GUVNL’s Request for Selection (RfS), which was issued in January 2024. The tender was designed to procure solar power through a competitive bidding process, followed by a reverse e-auction. It allowed participation from projects at different stages—under construction, already commissioned, or planned for development across India.

The bidding process was structured to accommodate both interstate and intrastate projects. Developers were required to bid for a minimum capacity of 50 MW for interstate-connected projects and 10 MW for projects connected to the State Transmission Utility (STU). Additionally, the greenshoe option provided an opportunity to increase capacity by up to 250 MW if required.

With a growing focus on clean energy, the state continues to facilitate competitive auctions to attract investment and boost solar power generation.