5 Winners in GUVNL’s 700 MW Solar Tender, Vena & Tata L1 Bidders

GUVNL’s 700 MW solar tender saw the entire capacity awarded to five bidders, with Tata Power and Vena Energy submitting the winning L1 bids of Rs 2.78/kWh.

The recently concluded auctions for the Gujarat Urja Vikas Nigam Limited’s (GUVNL’s) 700 MW solar tender saw the entire capacity awarded to five bidders. With Tata Power and Vena Energy submitting the winning bids (Lowest Bids – L1) of Rs 2.78/kWh.

As per industry reports, both the L1 bidders secured capacities of 100 MW each under the tender. Followed by ReNew Power which secured 200 MW project capacity with its bid of Rs 2.79/kWh. SJVN Limited came in with the L3 bid of Rs 2.80/kWh and secured 100 MW capacity while TEQ Power secured the remaining 200 MW capacity with its bid of Rs 2.81/kWh.

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The ceiling tariff for the tender was set at Rs 2.92/kWh.

In March, GUVNL had floated its tender for the selection of solar power developers for setting up 700 MW solar projects at the Dholera Solar Park. As per the RfS, GUVNL had re-tendered the 700 MW capacity which remained unallocated in solar tenders invited by the agency on January 16, 2019, (Phase V) and June 24, 2019 (Phase VII).

As per GUVNL, the tender had been issued in order to fulfill the renewable power purchase obligation (RPPO) and to meet the future requirements of Discoms. 700 MW Solar Tender Tata Vena

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The five winners will now set up the projects in the Dholera Solar Park on a Build Own and Operate basis in accordance with the provisions of this RfS document and standard Power Purchase Agreement (PPA). GUVNL shall enter into PPA with successful bidders for a period of 25 years from the scheduled commercial operation date of the project.

More recently, we had reported that the tender had been oversubscribed by 600 MW. After seven bidders submitted bids totaling 1,300 MW. Tata Power, Torrent Power, Vena Energy and SJVN each had bid to set up solar PV project of capacity 100 MW, Renew Power and Juniper Green submitted bids to develop 200 MW of solar PV projects each, TEQ Power submitted bid to develop 500 MW of solar PV projects.

TEQ Power (O2 subsidiary) was awarded 200 MW capacity after submitting a bid for 500 MW capacity because it submitted the highest bid and the project capacity was awarded using bucket filling method.