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Informist, Tuesday, Mar. 24, 2026

 

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--Gujarat govt aide: NLC India arm, 2 others win tender to supply 600 MW
--CONTEXT: Gujarat Urja Vikas Nigam floated tender to buy 625 MW solar power
--Gujarat govt aide: NLC India arm wins tender to supply 300 MW solar power
--Gujarat govt aide: NLC India arm to supply solar power at INR 2.34/unit
--Gujarat govt aide: NLC India arm, others to supply solar power for 25 yrs

 

By Sunil Raghu

 

AHMEDABAD – NLC India Ltd.'s wholly-owned subsidiary, NLC India Renewables Ltd., is learnt to have emerged as a winner in a tender to supply 300 megawatts of solar power to Gujarat Urja Vikas Nigam Ltd. for 25 years at INR 2.34 per unit, a senior official in the Gujarat government's energy department said.

 

"The GUVNL recently sought bids to procure 625 MW of solar power without energy storage, with a greenshoe option to procure an additional 625 MW. Nearly two dozen companies made it to the final round of reverse e-auction held last week, with NLC India Renewables Ltd. and two other companies emerging front runners with lowest tariff quote," the official said.

 

A back-of-the-envelope calculation suggests that supplying 300 megawatts of power would translate into about 432 million units every year and 10.8 billion units over 25 years, implying the total contract value is around INR 25.3 billion at the discovered tariff.

 

Apart from NLC India Renewables, Welspun Renewable Energy Pvt. Ltd. emerged as a key winner, offering to supply 300 megawatts at INR 2.34 per unit. Meghmani Renew Energy Pvt. Ltd. quoted the same tariff to supply 100 megawatts, the official said. "The discovered tariff marks a decline from previous auctions, reflecting intense competition. The highest tariff quoted in the auction was around 3.43 rupees per unit," the official added. In January, Gujarat Urja Vikas Nigam had discovered a tariff of about INR 3.43 per unit at its 250-megawatt wind power auction.

 

It was not immediately known whether Gujarat Urja Vikas Nigam would exercise the greenshoe option to scale up the procurement to 1,250 megawatts.

 

For the quarter ended December, NLC India reported a consolidated net profit of INR 6.66 billion on a revenue of INR 44.43 billion. On the National Stock Exchange, shares of NLC India closed 2.2% higher at INR 259.35.  End

 

Edited by Ashish Shirke

 

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