Indian electricity distribution company Gujarat Urja Vikas Nigam (GUVNL) has published the results of the latest solar auction in the state of Gujarat (India), which offered 500 MW of grid-connected PV capacity. The lowest bid reached INR2.55/kWh (about US$3.6c/kWh) and winners include Adani Green Energy (150 MW), Orange Renewables (120 MW), ReNew Power (105 MW) and UPC Energy Group (50 MW). The winning tariff is slightly higher than in the previous auction of 500 MW of solar capacity held by GUVNL in September 2018, which saw a winning tariff of INR2.44/kWh (US$3.4c/kWh).
Meanwhile, a 1,000 MW solar auction has been completed in the neighbouring Indian state of Maharashtra with bidding tariffs remaining competitive and higher than in Gujarat. The lowest winning tariff stood at INR2.74/kWh (US$3.9c/kWh), which is also higher than during the previous state auction held in May 2018, where winning bids ranged between INR2.71/kWh and INR2.72/kWh (US$3.8c/kWh). The number of winning companies is narrowing further, as only a handful of them secured capacity: Avaada with 350 MW, Acme Solar and ReNew with 300 MW each and Shiv Solar with 50 MW.
At the end of January 2019, Maharashtra's solar installed capacity stood at 1,619 MW (of which 1,447 MW of ground-mounted projects), while Gujarat's solar capacity topped the 2 GW threshold (2,003 MW, of which 1,836 MW were ground-mounted installations). Gujarat and Maharashtra accounted respectively for 7.7% and 6.3% of the Indian nationwide installed solar capacity (including both rooftop and ground-mounted installations).