KPI Green Energy, SAEL & NLC India Emerge Winners in GUVNL’s 800 MW Tender

GUVNL Looks to Procure 500 MW Hybrid Renewable Energy with 500 MW

KPI Green Energy, SAEL and NLC India have emerged winners for Gujarat Vikas Nagar Nigam Ltd (GUVNL) 800 MW solar project via competitive bidding. GUVNL had floated the tender for solar projects at Khavda Solar Park, Gujarat in May, 2023. The project comes with a greenshoe option of 800 MW.

KPI Energy won 100 MW capacity at INR 2.70 per kWh. SAEL Industries bagged 400 MW while NLC India won 300 MW. Each quoted INR 2.71 per KWh.

The bidders selected by GUVNL shall set up Solar Power Projects in Khavda Solar Park on Build Own and Operate (BOD) basis in accordance with the provisions of the tender and standard Power Purchase Agreement (PPA).

The tender says that GUVNL may decide to enter into PPA with successful bidders for a period of 25 years from the scheduled commercial operation date of the project. The successful bidders shall also enter into the “Implementation & Support Agreement” (ISA) and “Lease Agreement” (LA) with the Solar Power Park Developer (SPPD).

The Projects selected under the GUVNL tender shall deploy solar PV technology. However, the selection of projects would be technology agnostic within the technology mentioned in the tender. Crystalline silicon or thin-film etc., with or without trackers, can be installed.

GUVNL’s solar tender floated in February this year for the supply of power from 500 MW of grid-connected solar projects was secured by ReNew Power, Solarcraft Power, Mahindra Susten, and Avaada Energy.