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Six companies win tender to supply 500 Megawatt wind power to GUVNL

Power News - Published on Tue, 26 Dec 2017

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Economic Times reported that six companies won bids to supply 500MW of wind power to Gujarat Urja Vikas Nigam Limited through competitive bidding. The reverse auction, conducted after several delays, also reached the country's lowest wind tariff of INR 2.43 per kilowatt hour.

The lowest bidders include Sprng Energy Private Limited, KP Energy Limited, Verdant Renewables Private Limited, Betam Wind Energy Private Limited, Powerica Ltd and ReNew Power Ventures Private Ltd. Sprng Energy and KP Energy emerged as the L1 bidders, who quoted of INR 2.43 per kWh (or per unit) tariff for the supply of 197.50 MW and 30MW respectively.

The price quoted by the two companies is the lowest wind tariff reached so far through auction in the country. Previously, Solar Energy Corporation of India's in a 1,000MW auction in October this year had seen the lowest rate of INR 2.64 per unit.

Verdant Renewables, Betam Wind Energy and Powerica quoted INR 2.44 per unit for 100MW, 29.90MW and 50MW, respectively.

Sources in GUVNL said that "Of the remaining 92MW requirement, 75MW has been reserved for PSUs who agree to supply at the rate quoted by L1 bidders. Otherwise, the entire 92 MW will go to ReNew Power, which has quoted INR 2.45 per unit.”

Around 18 wind power developers were in fray to supply wind power to GUVNL, which had floated a 500MW tender in June this year. The wind auction by GUVNL was deferred a number of times as Indian Wind Energy Association (IWEA) first approached the Gujarat high court and then the Supreme Court opposing the bidding process on the ground that the central government had only issued draft guidelines for governing such wind energy auction, and it had not finalized any such guidelines.

Sources privy to the development said that "SC in its hearing on December 4 did not stay the auction. The bidding was conducted on December 21 considering the code of conduct in the wake of assembly elections in the state.”

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Posted By : Rabi Wangkhem on Tue, 26 Dec 2017
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