The recent e-reverse auction conducted by Gujarat Urja Vikas Nigam Limited (GUVNL) for 500 MW solar power projects witnessed the lowest winning bid of Rs 2.65 per kWh by Chennai-based GRT Jewellers for 90 MW. The bid is higher than the previous record low bid of Rs 2.44 per kWh, observed during the last solar power auction in Rajasthan. Three other companies that have emerged as winning bidders are Azure Power, Gujarat Industries Power Company Limited (GIPCL) and Gujarat State Electricity Corporation Limited (GSECL). While Azure Power quoted Rs 2.67 per kWh for 260 MW, GIPCL and GSECL quoted a tariff of Rs 2.66 per kWh and Rs 2.67 per kWh respectively for 75 MW each.
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