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In a recent petition filed by Gujarat Urja Vikas Nigam Limited (GUVNL), the focus was on the procurement of power from hybrid renewable energy projects. This petition, filed under certain regulatory provisions, aimed to adopt the tariff rates discovered through a competitive bidding process for 200 MW of hybrid power projects.
The competitive bidding process resulted in the selection of two key bidders for the 200 MW capacity. KPI Green Energy Limited emerged as one of the successful bidders, securing 50 MW at a tariff of ?2.99 per unit. Juniper Green Energy Private Limited was awarded the remaining 150 MW at a tariff of ?3.04 per unit. Both companies agreed to the terms and conditions outlined in the RfS document and accepted the discovered tariffs.
The petition emphasized the significance of adopting these tariffs to ensure the timely and efficient procurement of renewable energy. It highlighted the necessity of promoting renewable energy sources to meet the state’s growing power demands and support sustainable development goals.
The petition detailed the background of the Gujarat power sector’s reorganization. It highlighted that the reorganization resulted in the creation of separate entities for generation, transmission, distribution, and bulk power purchase. GUVNL was designated to handle the bulk power purchase and sale function. The distribution companies, including Uttar Gujarat Vij Company Limited (UGVCL), Madhya Gujarat Vij Company Limited (MGVCL), Dakshin Gujarat Vij Company Limited (DGVCL), and Paschim Gujarat Vij Company Limited (PGVCL), were mandated to procure power from renewable energy sources.
In this case, the petition sought approval for tariffs discovered under a transparent competitive bidding process for the procurement of 500 MW of grid-connected hybrid power projects. This process was initiated through a Request for Selection (RfS) document issued on November 1, 2023. The petition also included a greenshoe option for an additional capacity of up to 500 MW, allowing for flexibility and expansion based on project performance and needs.
The Commission reviewed the petition and the submissions made by the respondents. KPI Green Energy Limited and Juniper Green Energy Private Limited expressed their support for the adoption of the discovered tariffs. They acknowledged the transparent and fair nature of the bidding process and agreed to the proposed rates.
The Commission’s decision to adopt the tariffs was based on several considerations, including compliance with regulatory guidelines, the transparency of the bidding process, and the potential benefits of integrating hybrid power projects into the state’s energy mix. The decision aimed to facilitate the procurement of renewable energy, enhance energy security, and contribute to environmental sustainability.
The 200 MW capacity allocated under this tender is expected to play a crucial role in meeting the state’s renewable energy targets. The integration of hybrid power projects, which combine solar and wind energy, is anticipated to provide a more stable and reliable power supply compared to single-source renewable projects. This approach aligns with the state’s strategy to diversify its energy portfolio and reduce reliance on conventional fossil fuels.
The adoption of tariffs for the 200 MW hybrid power projects marks a significant step towards achieving Gujarat’s renewable energy goals. The transparent and competitive bidding process ensured fair pricing, while the involvement of reputable companies like KPI Green Energy Limited and Juniper Green Energy Private Limited underscored the credibility and potential success of these projects. This development is expected to contribute to the state’s overall energy security, economic growth, and environmental sustainability. |
