Hinduja Renewables Energy Private Limited has secured a contract to develop a 140 MW solar power project in a competitive bidding process conducted by Gujarat Urja Vikas Nigam Limited (GUVNL) at a tariff rate of Rs 2.64 per kWh.
The agreement also includes the potential for expansion to 280 MW, contingent upon GUVNL’s consideration of exercising the greenshoe option for an additional 140 MW capacity. This achievement is part of GUVNL’s solar tender Phase-XXII, which aims to select solar power developers for 500 MW solar power projects across the country.