Gujarat’s500 MW solar auction sees winning tariff of Rs 2.20 per kWh.

In the solar auction conducted by the Gujarat Urja Vikas Nigam Limited (GUVNL) for 500 MW of capacity, the winning tariff bidhas been quoted as Rs 2.20 per kWh.This is the first solar auction after the basic customs duty announcement by Ministry of New and Renewable Energy (MNRE) on cells and modules.

In the GUVNL auction, 500 MW of solar projects have been awarded to four winning bidders. The winning bidders include NTPC Renewable Energy which secured 150 MW capacity, Actis-backed SprngUjjvala Energy that secured 120 MW, Coal India Limited which won 100 MW capacity, and Tata Power’s arm TP Sauryawhich was allocated 60 MW. All the bidders had submitted the L1 tariff of Rs 2.2 per kWh before being awarded projects. Apart from these bidders, SJVN Limited was awarded the remaining 70 MW capacity after it had submitted a proposal for developing 100 MW of solar projects at a tariff of Rs 2.21 per kWh.

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