‘Very disappointing’ under subscription for Gujarat’s 700MW solar tender

Facebook
Twitter
LinkedIn
Reddit
Email
GUVNL has cancelled two auctions in the past leading to some uncertainty for developers. Flickr: Arian Zwegers

Gujarat's 700MW solar PV tender has been undersubscribed by 100MW, in what one analyst has described as the latest poor show of interest in a worrying trend.

Companies submitting to Gujarat Urja Vikas Nigam Limited's (GUVNL) tender for capacity under Phase III of the Raghanesda Solar Park included:

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

  • Tata – 200MW
  • Engie – 200MW
  • GIPCL – 100MW
  • GSECL – 100MW

Vinay Rustagi, managing director of consultancy firm Bridge to India, told PV Tech: “It's very disappointing to see a series of under subscriptions and cancellations, which seem to be becoming norm. This trend betrays a lack of connect between the government and private sector and if not addressed urgently, will cause untold damage to investor confidence.”

GUVNL has cancelled two auctions in the past leading to some uncertainty for developers. It has also had to extend tenders for its 1GW Dholera Solar Park due to a lack of interest.

In February, GUVNL auctioned 500MW of grid-connected solar capacity with winning tariffs in the range of INR2.55-2.66/kWh (US$3.6-3.8 cents).

India has multi-gigawatts of solar out for tender, having been on a procurement binge since late December 2018, including its first large-scale solar-plus-storage issuances for two years. However, more undersubscribed offers will be met with great worry by a government that is throwing all its weight behind reaching its 100GW by 2022 solar target. 

Read Next

September 8, 2025
Vikram Solar has won a 336MW module supply agreement from L&T Construction for the 2.3GW Khavda solar park in Gujarat. 
September 4, 2025
India’s Goods and Services Tax (GST) Council, the joint forum of the Centre and States, has reduced the GST rate on renewable energy components from 12% to 5%. 
September 4, 2025
Indian solar manufacturer Waaree Energies has acquired a 64% equity stake in power transformer manufacturing company Kotsons.
September 3, 2025
India has added 2.8GW of rooftop solar in H1 2025, a 158% year-on-year surge from just 1.1GW in the same period last year.
September 1, 2025
The US International Trade Commission (ITC) has voted to continue the investigation on imported solar cells from India, Indonesia and Laos.
August 28, 2025
Indian solar manufacturing firm INA Solar has broken ground on its fourth 4.5GW cell production plant in Narmadapuram, Madhya Pradesh.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines