Gujarat awards 500MW in latest solar auction at 2.65 rupees low

Facebook
Twitter
LinkedIn
Reddit
Email
The Discom reduced solar park charges to try and attract lower bids in its second attempt. Flickr: Arian Zwegers

The first auction for capacity at the Raghanesda Solar Park in the Indian state of Gujarat was scrapped due to high tariffs, but a second attempt has drawn far lower tariffs.

Gujarat Urja Vikas Nigam (GUVNL)'s auction saw French power giant Engie grab 200MW, with two local state-run firms and Tata Power picking up the remaining 300MW. The 700MW tender was disappointingly undersubscribed earlier this week and now just 500MW have been awarded.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

High tariffs last December of between 2.84-2.89 rupees from the likes of Softbank, Fortum and Engie, led GUVNL to cancel its first auction, but the Discom then reduced solar park charges to try and attract lower bids in its second attempt.

The results of this second auction were as follows:

Bidder Capacity (MW) Tariff (INR/kWh)
Engie 200 2.65
Gujarat State Electricity Corporation 100 2.68
Gujarat Industries Power Company 100 2.68
Tata Power 100 (bid for 200) 2.70

Tender and auction cancellations in Gujarat have led to some heavyweight firms avoiding the state due to the uncertainties and it remains to be seen whether GUVNL will follow through with its latest auction.

Read Next

July 11, 2025
Indian independent power producer (IPP) Juniper Green Energy has commissioned an additional 71MWp at Chapalgaon Solar Project in Solapur, Maharashtra.
July 9, 2025
Indian solar water pump and motor manufacturer Shakti Pumps has successfully raised INR2.9 billion (US$34.1 million) to build a solar cell and module manufacturing plant.
July 8, 2025
German solar glass manufacturer Glasmanufaktur Brandenburg (GMB) has filed for insolvency after posting monthly losses of €900,000 this year.
July 8, 2025
Energy consultancy JMK Research has forecast 28.3GW of utility-scale and residential solar PV to be installed in India during fiscal year 2026.
July 8, 2025
SJVN Green Energy has commenced commercial operations of 100.02MW from its 1,000MW solar power project in Bikaner, Rajasthan.
July 7, 2025
ReNew has received a non-binding final acquisition offer from a consortium at US$8 per share, which is 13.2% more than their earlier offer.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK