Gujarat Urja Vikas Nigam Ltd (GUVNL) has announced the winners of its auction to procure 1,125 MW of grid-connected solar projects to be set up at the Khavda renewable energy park, in the Indian State of Gujarat. Solairedirect secured 200 MW at a tariff of INR2.62/kWh (US$3.16c/kWh), while NHPC and SJVN each secured 200 MW at INR2.66/kWh (US$3.21c/kWh). In addition, JSW Neo Energy secured the highest capacity of 300 MW at a tariff of INR2.66/kWh, while NTPC Renewable Energy won 225 MW at INR2.67/kWh (US$3.22/kWh). Successful bidders will sign a 25-year power purchase agreement (PPA) with GUVNL. The tender was originally floated in January 2024.
At the end of 2022, solar and wind accounted for 22% of installed capacity in India, with respectively 63 GW and 42 GW, while hydropower capacity surpassed 51 GW. India plans to increase its non-fossil fuel capacity to 500 GW.
Do you want to become an expert on renewable energies auctions?
Discover our very detailed and regularly updated RES auctions database with worldwide coverage and a technical focus backed by academic research.
With our renewable energies auctions service you will be able to monitor auctions at a global level. Its (expanding) scope notably includes all major G20 countries and offers an especially fine tracking on Europe and South America.