GUVNL Invites Bids for 500 MW Wind Power Projects with Greenshoe Option

Gujarat Urja Vikas Nigam Limited (GUVNL) is inviting bids for the procurement of 500 MW of wind power projects across India, with an additional greenshoe option for another 500 MW. Developers must submit their bids by August 12, 2024. To participate, bidders are required to deposit Rs 1.3 million per MW and pay a non-refundable fee of Rs 0.3 million plus 18% GST. The project scope includes the construction of wind power projects and their integration into the transmission and utility network.

In June 2024, GUVNL announced the results for its auction to develop 500 MW of grid-connected solar power projects under phase XXIV. The tender, released in March 2024, included a greenshoe option for an additional 500 MW. KPI Green Energy secured 120 MW with the lowest tariff of Rs 2.67 per kWh. Avaada Energy won 200 MW, and Solarcraft Power India 5 (BluPine Energy) obtained 40 MW with tariffs of Rs 2.68 and Rs 2.69 per kWh, respectively. Other winners included Hinduja Renewables Energy with 130 MW and NRC Industries with 10 MW, both quoting Rs 2.72 per kWh.

The same month saw the announcement of results for GUVNL's 500 MW grid-connected wind-solar hybrid power projects auction, which also had a greenshoe option of 500 MW. The tender, issued in February 2024, saw KPI Green Energy and Juniper Green Energy win 50 MW and 120 MW with tariffs of Rs 3.33 and Rs 3.34 per kWh, respectively. JSW Energy and Hinduja Renewables Energy won 180 MW and 150 MW, respectively, quoting Rs 3.39 per kWh.

GUVNL's initiatives reflect a strong push towards renewable energy, aiming to enhance India's green energy capacity and meet rising energy demands sustainably. These auctions underline the competitive tariffs and growing participation from leading energy companies in the renewable sector.

News by Rahul Yelligetti