GUVNL's 700 MW Dholera solar power tender overbid by 600 M

The Gujarat Urja Vikas Nigam Limited (GUVNL) tender for development of 700 MW of grid-connected solar power project at the Dholera Solar Park has been oversubscribed by 600 MW. The tender received bids totaling 1,300 MW from seven bidders, reports citing GUVNL officials said.

The bidders included Tata Power, Torrent Power, Vena Energy and SJVN, each bidding 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, O2 Power submitted bid to develop 500 MW of solar PV projects.
In March 2020, GUVNL issued a tender for the purchase of power from 700 MW of grid-connected solar PV power projects located in Dholera Solar Park (Phase-IX).
The bidders selected by GUVNL after financial bidding will set up Solar Power Projects in Dholera Solar Park on Build Own and Operate basis and GUVNL will enter into PPA with successful bidders for a period of 25 years from the scheduled commercial operation date of the project.
The upper tariff ceiling for this auction is Rs2.92/kWh. In the last GUVNL auction in March 2020, the lowest quoted tariff was Rs2.61/kWh and the highest was Rs2.64/kWh and officials expect tariffs quoted are going to be around that level for the current bidding as well. Vena Energy (L1 bidder), Juniper Energy (L2 bidder) and Tata Power (L3 bidder) were also the three winners of GUVNL’s March auction for projects in Dholera.