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KPI Green, Juniper Green Among Winners for GUVNL's 500 MW Wind-Solar Hybrid Auction

KPI Green Energy secured 50 MW at a rate of INR 3.33/kWh.

June 07, 2024. By Abha Rustagi

KPI Green Energy, Juniper Green Energy, Hinduja Renewables Energy, and JSW Neo Energy have emerged as winners in the Gujarat Urja Vikas Nigam Limited (GUVNL) auction to procure power from 500 MW grid-connected wind-solar hybrid projects, with an additional greenshoe option of another 500 MW.

KPI Green Energy secured 50 MW at a rate of INR 3.33/kWh. Juniper Green Energy followed with a bid of INR 3.34/kWh for 120 MW. Hinduja Renewables Energy quoted INR 3.39/kWh for 150 MW whereas JSW Neo Energy won 180 MW out of a quoted capacity of 200 MW at INR 3.39/kWh.

Successful bidders are required to sign a PPA with GUVNL within 30 days of receiving the letter of intent or within 10 days of the Gujarat Electricity Regulatory Commission (GERC) adopting the tariff, whichever comes later.

The auction, floated in February this year, specified that both under-construction projects and operational projects without a long-term power purchase agreement (PPA) were eligible, provided they were not part of any other central or state programs and had no obligations to existing buyers.

Only wind turbine models listed in the Revised List of Models and Manufacturers by the Ministry of New and Renewable Energy (MNRE), updated until the project's commercial operation date, are approved for use. Solar modules must be selected from the MNRE's Approved List of Models and Manufacturers, ensuring that all components meet stringent quality and performance standards.