Gujarat Urja Vikas Nigam, in a recent solar auction, received bids creating a new record low tariff, according to reliable reports.
A recent report by Mercom said that Gujarat Urja Vikas Nigam Ltd’s (GUVNL) (Phase XI) auction for 500 mw of solar projects has received tariff of Rs.1.99 per unit, recording a new low.
This tariff is a paisa less than SECI’s previous record low tariff of Rs.2 per unit discovered in its auction for 1,070 mw of grid-connected solar projects (Tranche III) in Rajasthan in November this year. SECI had received bids from 14 companies for a total of 4,350 mw, leaving the tender oversubscribed by 3,280 mw.
The record-breaking tariff of Rs.1.99 per unit was quoted by the following companies. Figures in brackets indicate the capacity bid for.
- NTPC Ltd (200 mw)
- Torrent Power Ltd (100 mw)
- Al Jomaih Energy and Water Company Ltd (80 mw)
- and Aditya Renewables (120 mw)
In September, GUVNL had floated the tender for the purchase of 500 MW of power from grid-connected solar projects. According to the tender, the projects under construction, those that are not yet commissioned, or projects that are already commissioned but do not have any long-term PPA with any agency were eligible for this tender.
The successful bidder is expected to set up solar power projects, including the transmission network, up to the delivery point at their own cost. They must also acquire all necessary approvals, permits, and clearances for setting up the project.
They are expected to limit the scope of the technology used in the projects within photovoltaic technology, crystalline silicon, or thin-film, among others, with or without trackers installed. The commercial operation date (COD) will be certified by the Gujarat Energy Development Authority (GEDA) after the successful commissioning of the project’s total capacity.
(Featured photograph for illustration only)
Source: Mercom
