Mumbai : 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.
Commenting on the achievement, 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.”
About Hinduja Renewables:
Hinduja Renewables, part of the Hinduja Group, is an independent renewable power producer with a vision to be a leader in the sustainable energy ecosystem, through value-creating partnerships and innovative business models. It plans to grow through both organic and inorganic means in renewable energy and emerging sustainable energy technologies in distributed and utility segments.
Committed to India’s quest for leadership in sustainable energy and self-reliance, Hinduja Renewables is seeking opportunities in the convergence between energy and mobility. Areas of active exploration include hybrid renewable projects, energy storage systems, green hydrogen generation (or value chain), and offshore wind. Today, it operates a portfolio of solar power plants spread across the country and aims to grow to a multi-GW capacity in the next few years.
