Hinduja Renewables bags 140-MW solar project from Gujarat Urja Vikas Nigam

Hinduja Renewables on Wednesday announced that it bagged a 140-MW solar power project from Gujarat Urja Vikas Nigam (GUVNL).

The contract 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, a company statement said.

According to the statement, the Hinduja Renewables was one of the four winning developers under this tender which saw participation from leading independent power producers.

Hinduja Renewables has won a bid to set up 140-MW solar power capacity in a tender issued by GUVNL at a tariff rate of Rs 2.64/kWh, it stated.

This has a potential to increase to 280 MW as GUVNL may allow an additional capacity of 140 MW by exercising the green shoe option.

Sumit Pandey, CEO of Hinduja Renewables, said in the statement, "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 over 1.5 GW in the country in the coming few years.