Industrial Automation Magazine India

Hinduja Renewables was one of the 4 winning developers under this tender which saw participation from leading IPPs.

Mumbai, December 27, 2023: 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 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."

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.