The contract is part of the Solar Tender Phase XXII issued by GUVNL for the selection of solar power developers for setting up 500 MW Solar Power Projects anywhere in India 

 According to the firm, Hinduja Renewables has acquired a major 140-MW solar power project from Gujarat Urja Vikas Nigam (GUVNL). The contract is a component of GUVNL’s Phase XXII Solar Tender, which is intended to choose solar power developers for the construction of 500 MW solar power projects across the country. Several well-known independent power producers participated in this competitive tender and Hinduja Renewables was one of the four winners.

The company declared that it has won the tender to build a 140-MW solar power plant with a kWh pricing of Rs 2.64. Interestingly, GUVNL still has the ability to exercise an additional 140 MW through the green shoe option, so this capacity could potentially double to 280 MW.

“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,” Hinduja Renewables CEO Sumit Pandey said in a statement according to media reports. With this accomplishment, Hinduja Renewables will be able to operate in the nation for the next few years with a capacity of more than 1.5 GW.” The company’s successful proposal is a testament to its ongoing expansion and standing in India’s renewable energy market.