Renewable Energy groups bid aggressively for Solar projects

<p> </p><p>Earlier this week in Gujarat’s 500 MW solar auction, the lowest auction tariff was noted to be Rs 2.55/ unit, by clean energy firm <strong>UPC,</strong> with a contract of 50 MW. <strong>Gujarat State Electricity Corporation Ltd, (GSECL)</strong> and <strong>Adani Green Energy</strong> won 75 MW and 150 MW respectively at Rs 2.67/unit, whereas <strong>Orange Renewable</strong> and <strong>ReNew Power</strong> won 120 MW and 105 MW at Rs 2.67/unit and Rs 2.68/unit respectively, in the auction conducted by discom, <strong>Gujarat Urja Vikas Nigam Ltd (GUVNL).</strong></p><p>This was an <strong>Inter State Transmission System (ISTC)</strong> contract and <strong>Solar Energy Corporation of India (SECI)</strong> is yet to finalize which states would be buying the power.</p><p>In the non-solar park auction conducted the same week, which are Rajasthan specific projects that need to be built within 18 months, 5 companies have won the contract, with the lowest bid being Rs 2.48/ unit.</p><p>Amongst the companies to have bid and won the tender amounting to a total of 750 MW, are Finland’s <strong>Fortum</strong>, US Based <strong>ACME</strong> with 250 MW each, <strong>UPC</strong> with 100MW and <strong>Palimarwar Solar House</strong> with 40 MW at Rs 2.48/ unit and <strong>ReNew Power</strong> led by Mr. Sumant Sinha with 110MW at Rs 2.49/unit.</p><p>Since, in state-specific contracts, the availability of land and transmission is known already, the tariffs are driven down by a margin.<br><br> </p><p>As compiled from</p><p> </p><p>                <a href="https://economictimes.indiatimes.com/industry/energy/power/gujarat-solar-auction-upc-energy-group-adani-green-energy-renew-power-winners/articleshow/68070339.cms">Economic Times</a></p><p>                <a href="https://energy.economictimes.indiatimes.com/news/renewable/green-companies-continue-to-bid-aggressively-for-solar-power-projects/68227459">Economic Times</a></p>

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