Seven firms win bids for 500 MW solar projects under GUVNL Phase XXV

On December 19, 2024, Gujarat Urja Vikas Nigam Limited (GUVNL) announced the winners of its 500 MW Solar Photovoltaic (PV) Power Projects under Phase XXV without energy storage systems (ESS). The successful bidders are:

• Drashta Green Power Limited: 10 MW at Rs 2.55 per kWh
• S.B.B. Mouldings Private Limited: 10 MW at Rs 2.55 per kWh
• Enertech Fuel Solutions Private Limited: 40 MW at Rs 2.55 per kWh
• Kintech Synergy Private Limited: 50 MW at Rs 2.55 per kWh
• AuSom Enterprise Limited: 50 MW at Rs 2.55 per kWh
• Prozeal Green Energy Limited: 100 MW at Rs 2.55 per kWh
• SAEL Industries Limited: 240 MW at Rs 2.56 per kWh

GUVNL had invited bids for 500 MW solar PV power projects under Phase XXV, with a greenshoe option for an additional 500 MW. 

The projects will be developed on a build, own, and operate (BOO) basis. The winning bidders will enter into power purchase agreements (PPAs) for 25 years. The projects are expected to be completed within 24 months from the PPA signing.