GUVNL Tender: ReNew To Supply Solar Power At Rs 2.71/unit 

ReNew Solar Power is now all set to sell its solar power at the rate of Rs 2.71 per unit, discovered through competitive bidding by the Gujarat Urja Vikas Nigam Limited (GUVNL). The tender on the same was on February 4, 2023, for a 500 MW grid-connected solar project to be set up anywhere in India with an additional Greenshoe option of 500 MW. 

ReNew was among the four successful bidders besides Solarcraft Power India 21, Mahindra Susten, and Avaada. Renew offered the lowest tariff of Rs 2.71 and was declared eligible for 200 MW capacity. It was followed by Solarcraft, which got 60 MW capacity at a rate of Rs 2.74/unit. Mahindra Susten also quoted the same rate and was awarded 100 MW capacity by the GUVNL. Avaada, meanwhile, had quoted 500 MW but was allocated 140 MW capacity at its quoted tariff of Rs 2.75. 

Meanwhile, all these companies were also allocated equivalent capacities on a Greenshoe option with a tariff of Rs 2.71 per unit. GUVNL recently filed a petition before the GERC to adopt the tariffs. The GERC, meanwhile, after a deliberate discussion on the issue, has approved the tariffs of these four solar developers for the supply of solar power to GUVNL. The enterprise, meanwhile, has filed the petition on behalf of other distribution companies in Gujarat. 

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The GERC also directed the GERC to make the tariffs public for transparency. “We decide to adopt the tariff discovered under the competitive bidding process conducted by the Petitioner through RfS No. GUVNL/500 MW/ Solar (Phase XIX) dated 04.02.202…We also direct the Petitioner that for the purpose of transparency, after execution of the PPAs, publicly disclose the name(s) of the successful bidder(s) and the tariff quoted by them together with the breakup with the component, for 30 days on its website in terms of Clause 10.3 of the bidding guidelines as amended for knowledge and information of the stakeholders,” the order said.