US-based UPC Solar's special purpose vehicle Paryapt Solar submitted the lowest bid in Gujarat Urja Vikas Nigam's (GUVNL) recent oversubscribed 500 MW auction, offering a tariff of INR2.55 (~$0.035)/kWh for a 50 MW project. The company is also planning to build another 250 MW solar park at its existing site near Surat and has already signed an agreement with Gujarat State Electricity Distribution Company (GESDCO) on setting up this The 12-paise difference may prompt further GUVNL scrutiny. The three companies bid for projects of 75 MW, 120 MW, and 150 MW respectively.
US-based UPC Solar's special purpose vehicle Paryapt Solar submitted the lowest bid in Gujarat Urja Vikas Nigam's (GUVNL) recent oversubscribed 500 MW auction, offering a tariff of INR2.55 (~$0.035)/kWh for a 50 MW project. However, there is concern GUVNL could scrap the auction after it emerged that the second-lowest bid, offered by Juniper Green Energy, Adani Renewables and Gujarat State Electricity, was INR2.67. The 12-paise difference may prompt further GUVNL scrutiny. The three companies bid for projects of 75 MW, 120 MW, and 150 MW respectively.