Gujarat’s 500 MW solar auction sees winning tariff of Rs 2.20 per kWh

In the solar auction conducted by Gujarat Urja Vikas Nigam Limited for 500 MW capacity, the first four winning bidders were NTPC Renewable Energy, Actis-backed Sprng Ujjvala Energy, Coal India Limited, and Tata Power’s arm TP Saurya-a, which won 150 MW, 120 MW, 100 MW and 60 MW, respectively, at a tariff of Rs 2.20 per kWh. Meanwhile, SJVN bid for 100 MW at Rs 2.21 per kWh and won 70 MW under the bucket filling method. This is the first solar auction after the basic customs duty announced by the MNRE on cells and modules.