1. Home
  2. Infrastructure Energy
  3. POWER & RENEWABLE ENERGY
  4. GUVNL purchases power at Rs.2.81/kWh from O2 Power's 200 MW solar projects
GUVNL purchases power at Rs.2.81/kWh from O2 Power's 200 MW solar projects
POWER & RENEWABLE ENERGY

GUVNL purchases power at Rs.2.81/kWh from O2 Power's 200 MW solar projects

05 Apr 2024 2 Min Read CW Team
The directive stemmed from a petition lodged by the Gujarat Urja Vikas Nigam (GUVNL) regarding the bidding process that occurred on March 18, 2020, aiming to secure power from Dholera Solar Park.

TEQ Green had been allotted 200 MW out of the quoted capacity of 500 MW at Rs 2.81/kWh.

Furthermore, the Gujarat Electricity Regulatory Commission (GERC) instructed GUVNL to furnish a copy of the executed power purchase agreement to the Commission and to reveal the identities of the winning bidder and the tariff offered for a duration of 30 days on its website.

The tender for 700 MW at Dholera had been floated by GUVNL in January 2019 with a tariff ceiling of Rs 2.75/kWh. In August 2020, Vena Energy Renewables, Tata Power, ReNew Power, SJVN, and TEQ Green Power emerged victorious in the auction for Dholera Solar Park (Phase IX).

GUVNL issued letters of award to the successful bidders in October 2020.

The solar bidding guidelines do not stipulate the provision for re-tendering post the award or without nullifying the previous bidding process.

Nevertheless, in February, with approval from the Commission, GUVNL annulled the auction and reissued it to ascertain a lower tariff for the projects.

The Commission noted that the environmental conditions at the Dholera Solar Park were so arduous that, despite GUVNL's persistent efforts to solicit bids for a capacity of 1,000 MW, only bids for 300 MW were received.

The other winners in the auction were Vena Energy Renewables and Tata Power, each securing 100 MW at a tariff of Rs 2.78/kWh, Renew Solar Power with 200 MW at a tariff of Rs 2.79, and SJVN with 100 MW at a tariff of Rs 2.80. After the parties' arguments are heard, the Commission will issue rulings concerning the bids submitted by VERUPL and Tata Power.

As SJVN and Renew withdrew their appeals, GUVNL revised the tender from 700 MW to 600 MW and proceeded with the bid for 400 MW.

The directive stemmed from a petition lodged by the Gujarat Urja Vikas Nigam (GUVNL) regarding the bidding process that occurred on March 18, 2020, aiming to secure power from Dholera Solar Park. TEQ Green had been allotted 200 MW out of the quoted capacity of 500 MW at Rs 2.81/kWh. Furthermore, the Gujarat Electricity Regulatory Commission (GERC) instructed GUVNL to furnish a copy of the executed power purchase agreement to the Commission and to reveal the identities of the winning bidder and the tariff offered for a duration of 30 days on its website. The tender for 700 MW at Dholera had been floated by GUVNL in January 2019 with a tariff ceiling of Rs 2.75/kWh. In August 2020, Vena Energy Renewables, Tata Power, ReNew Power, SJVN, and TEQ Green Power emerged victorious in the auction for Dholera Solar Park (Phase IX). GUVNL issued letters of award to the successful bidders in October 2020. The solar bidding guidelines do not stipulate the provision for re-tendering post the award or without nullifying the previous bidding process. Nevertheless, in February, with approval from the Commission, GUVNL annulled the auction and reissued it to ascertain a lower tariff for the projects. The Commission noted that the environmental conditions at the Dholera Solar Park were so arduous that, despite GUVNL's persistent efforts to solicit bids for a capacity of 1,000 MW, only bids for 300 MW were received. The other winners in the auction were Vena Energy Renewables and Tata Power, each securing 100 MW at a tariff of Rs 2.78/kWh, Renew Solar Power with 200 MW at a tariff of Rs 2.79, and SJVN with 100 MW at a tariff of Rs 2.80. After the parties' arguments are heard, the Commission will issue rulings concerning the bids submitted by VERUPL and Tata Power. As SJVN and Renew withdrew their appeals, GUVNL revised the tender from 700 MW to 600 MW and proceeded with the bid for 400 MW.

Next Story
Infrastructure Urban
08 Nov 2024

Macrotech acquires Bain Capital's stake in 3 entities for Rs 3 Bn

Realty firm Macrotech Developers has acquired Bain Capital's stake in three industrial and logistics park entities for Rs 3.07 billion as part of a strategy to enhance rental income. Macrotech Developers is one of the leading real estate firms in the country. It sells properties under Lodha brand. In a regulatory filing, the company informed that it has "executed Securities Purchase Agreements (SPAs) with India Opportunities Fund SSA Scheme 1 and DSS Opportunities Investment 1 (Bain Capital) for acquisition of their interest in the digital infrastructure platform entities (Bellissimo Digital I..

Read More
Next Story
Infrastructure Urban
08 Nov 2024

Tata Steel reports Rs 7.59 Bn net profit in Jul-Sep

Tata Steel reported a net profit of Rs 7.58 billion for the September 2024 quarter, helped by lower expenses. It had posted a net loss of Rs 65.11 billion in the July-September period of the preceding 2023-24 fiscal, the company said in an exchange filing. In a separate statement, Tata Steel CEO and MD TV Narendran said the global operating environment remained complex, with key regions facing subdued growth. Macroeconomic conditions in China continued to weigh on commodity prices, including steel. In India, steel demand continued to improve, but domestic prices were under pressure due to chea..

Read More
Next Story
Infrastructure Urban
08 Nov 2024

SC to verdict on Nov 7 on plea against NCLAT

The Supreme Court is scheduled to pronounce its verdict on a plea of State Bank of India (SBI) and other creditors challenging the National Company Law Appellate Tribunal (NCLAT) decision that upheld the resolution plan of grounded air carrier Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium (JKC). A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra will pronounce the verdict which was reserved on October 16. The NCLAT had on March 12 upheld the resolution plan of the grounded air carrier and approved the transfer of its ownersh..

Read More

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

Macrotech acquires Bain Capital's stake in 3 entities for Rs 3 Bn
ECONOMY & POLICY
08 Nov 2024

Macrotech acquires Bain Capital's stake in 3 entities for Rs 3 Bn

Tata Steel reports Rs 7.59 Bn net profit in Jul-Sep
ECONOMY & POLICY
08 Nov 2024

Tata Steel reports Rs 7.59 Bn net profit in Jul-Sep

SC to verdict on Nov 7 on plea against NCLAT
ECONOMY & POLICY
08 Nov 2024

SC to verdict on Nov 7 on plea against NCLAT

Nippon Steel says expects to close US Steel takeover in 2024
Steel
08 Nov 2024

Nippon Steel says expects to close US Steel takeover in 2024

Indian Railways to ply over 500 special trains
RAILWAYS & METRO RAIL
08 Nov 2024

Indian Railways to ply over 500 special trains

JK Lakshmi Cement posts net loss of Rs 192 Mn in Q2 FY25
Cement
08 Nov 2024

JK Lakshmi Cement posts net loss of Rs 192 Mn in Q2 FY25

Hi-Tech Pipes Q2 net profit jumps 72%
ECONOMY & POLICY
08 Nov 2024

Hi-Tech Pipes Q2 net profit jumps 72%

Domestic air passenger traffic in India sees 6.3% growth
AVIATION & AIRPORTS
08 Nov 2024

Domestic air passenger traffic in India sees 6.3% growth

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000