Gujarat Urja Vikas Nigam Limited (GUVNL) awarded a 625 MWp solar power tender at a tariff of INR 2.34 per unit (USD 0.025) to Welspun Energy and NLC India Limited. Out of the total capacity, 300 MW was allocated to each.

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The awards come nearly five months after the tender was floated. The projects can be developed anywhere in India, including sites that are already commissioned or under construction, offering flexibility to developers. 

More than 20 developers participated in the auction, with prices per unit ranging from INR 2.34 (USD 0.025) to INR 2.60 (USD 0.028).

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Several developers, including Krishna Corpindia, Sunstream Green Energy, Terra Clean Ltd, Soleos Energy, Helioact Power India, Saju Industry, MB Power Madhya Pradesh, KPI Green Energy, Spring Energy, SAEL Industries, PNC Infratech and Waaree Energies participated but did not secure allocations.

This time the tariff is lower than GUVNL’s previous 2025 auction, where tariffs stood at INR 2.60 per kWh (USD 0.028) for a similar capacity, including a greenshoe option of 625 MW.

In the earlier auction, GUVNL awarded 250 MW capacity, along with a greenshoe option, to Welspun Energy and Avaada Energy at INR 2.60 per kWh (USD 0.028), with SAEL Industries also securing 100 MW under the bucket-filling mechanism at the same tariff.

Further back, in December 2024, GUVNL had allocated 500 MW of grid-connected solar projects, with an additional 500 MW greenshoe option. Tariffs in that round remained above INR 2.55 per unit (USD 0.027), reflecting the cost impact of ALMM and Domestic Content Requirement norms.

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