GUVNL seeks 625 MW solar PV projects with INR 2.34/kWh discovered tariff
Type: Development · Technology: Solar · Country: India · Capacity: 625 MW · Announced: 2026-03-19
Gujarat Urja Vikas Nigam Ltd (GUVNL) launched a tender in November 2025 to procure 625 MW of solar power from projects to be set up without energy storage anywhere in India. The tender saw aggressive bidding, with the lowest discovered tariff (L1) at INR 2.34/kWh. Welspun Renewable Energy and NLC India emerged as winners, securing 300 MW each. The selected developers will establish the projects on a build-own-operate basis at locations of their choice across India. Solar PV modules for these projects must be sourced from the MNRE’s Approved List of Models and Manufacturers (ALMM List-I), with cells from ALMM List-II.
Analysis
Gujarat Urja Vikas Nigam Ltd (GUVNL) launched a tender in November 2025 to procure 625 MW of solar power across India, with Welspun Renewable Energy and NLC India securing 300 MW each at a discovered tariff of INR 2.34/kWh. NLC India Limited, a Navratna public sector undertaking, is engaged in lignite and coal mining and thermal power generation. Welspun Renewable Energy's capacity was not specified in the provided data. The selected developers will establish the projects on a build-own-operate basis, with solar PV modules sourced from the MNRE’s ALMM List-I and cells from ALMM List-II.
Key points
- 625 MW solar PV projects tendered by GUVNL
- Lowest discovered tariff (L1) of INR 2.34/kWh
- Welspun Renewable Energy and NLC India secured 300 MW each
- Projects to be set up without energy storage anywhere in India
- Solar PV modules to be sourced from MNRE’s ALMM List-I
Counterparties
- NLC India Limited (Developer)
- Welspun Renewable Energy (Developer)
- Gujarat Urja Vikas Nigam Ltd (Offtaker)