In a highly competitive bid, Hinduja Renewables has won a bid to set up 140MW solar power capacity in a tender issued by GUVNL at a tariff rate of INR 2.64/kWh. This has a potential to increase to 280 MW as GUVNL may allow additional capacity 140 MW by exercising the greenshoe option.
The award is part of the solar tender phase -XXII issued by GUVNL for selection of solar power developers for setting up 500 MW solar power projects anywhere in India. Hinduja Renewables was one of the 4 winning developers under this tender which saw a participation from leading IPPs.
Sumit Pandey, CEO of Hinduja Renewables, stated, “This is a welcome addition to the recent tenders we have won this year across different central and state tenders such as NHPC and GUVNL. With this achievement, Hinduja Renewables will operate with a capacity of 1.5+ GW in the country in the coming few years. Hinduja Renewables is well on its way to creating a multi-GW suite of power capacity.”
