Wed, Oct 18, 2017

Four companies have been finalized to provide 500 MW solar power to Gujarat Urja Vikas Nigam Limited (GUVNL) through reverse e-auction. These companies, which have emerged as winners, are Azure Power, Tamil Nadu-based GRT Jewellers (India) Pvt Ltd, Gujarat State Electricity Corporation Limited (GSECL) and Gujarat Industries Power Company Ltd (GIPCL).

In June 2017, GUVNL had floated a tender for procuring 500 MW each from solar power projects through competitive bidding. The reverse e-auction was recently completed.

Azure Power quoted Rs 2.67 per unit for 260 MW and GRT Jewellers Rs 2.65 a unit for 90 MW. GSECL and GIPCL tariffs were Rs 2.66 and Rs 2.67 respectively for 75 MW each.

The lowest tariff of Rs. 2.65 a unit discovered through the competitive bidding is tad higher than the previous rate of Rs. 2.44 per unit discovered in Rajasthan.