Author: PPD Team Date: 10/03/2025
Three firms have won bids to develop a cumulative 250 MW grid-connected solar photovoltaic (PV) power projects without energy storage system (ESS) anywhere in India. The bids were awarded under Phase XXVI of Gujarat Urja Vikas Nigam Limited (GUVNL) on March 6, 2025.
Avaada Energy Private Limited (Avaada Power Private Limited) secured a 100 MW capacity at a tariff of Rs 2.6 per kWh. Welspun New Energy Limited, a wholly-owned subsidiary of Welspun Energy Limited (WEL), won 50 MW by quoting the same tariff. SAEL Industries Limited [Sukhbir Agro Energy Limited (SAEL)] initially bid for 200 MW but was awarded 100 MW under the bucket-filling method at Rs 2.6 per kWh.
In January 2025, GUVNL had invited Request for Selection (RfS) bids for 250 MW of grid-connected solar PV projects under Phase XXVI, with an additional greenshoe option of 250 MW capacity. The projects will be implemented on a build, own, and operate (BOO) basis.
GUVNL will sign power purchase agreements (PPAs) with the successful bidders for a period of 25 years. The projects are expected to be completed within 24 months from the date of signing the PPA.