In what could give a boost to renewable energy consumption, the Gujarat Urja Vikas Nigam Limited (GUVNL) has received approval from Gujarat Electricity Regulatory Commission (GERC) for buying 500 MW wind energy at the lowest-ever tariff of Rs2.43-2.45 per unit for a period of 25 years.
Last June, GUVNL had invited competitive bids for 500 MW wind power.
It received online bids from 18 bidders offering aggregate 2,120 MW capacity, of which 12 bidders were shortlisted for e-reverse auction.
At the end of the process, the final prices discovered for supply of electricity were in the range of Rs2.43-2.45 per unit.
A GUVNL official said that the utility signed power purchase agreements (PPAs) for a period of 25 years with eight successful bidders in January, and had approached GERC for approval of the PPAs. Read More