(ET)
US-based UPC Energy Group, Adani Green Energy, ReNew Power and Orange Renewables are among the winners in Gujarat’s 500 MW solar auction, which evoked aggressive bids, with the lowest offer of Rs 2.55 per unit.
“The tariff appears to be pretty low, and more so for a 50 MW project because scale also plays a huge role. The low tariffs discovered so far have been for large-scale projects,” said a developer on condition of anonymity. Global clean energy firm UPC secured 50 MW at Rs 2.55 per unit while Gujarat’s own public sector company, Gujarat State Electricity Corporation Ltd, and Adani Green Energy won 75 MW and 150 MW respectively at Rs 2.67 per unit. Orange Renewable and ReNew Power won 120 MW and 105 MW at Rs 2.67 and Rs 2.68 in the auction conducted by discom, Gujarat Urja Vikas Vigam Ltd (GUVNL).
