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Gujarat Urja Vikas Nigam Limited (GUVNL) has completed the auction for its 250 MW energy storage tender under Phase IX. The auction, which attracted strong participation, set a new benchmark in tariff discovery for the energy storage sector in India. The lowest tariff discovered was ₹3.64 per kWh, and all bids were close, ranging from ₹3.64 to ₹3.66 per kWh. The auction was for a total of 250 MW, with an additional greenshoe option of another 250 MW available in Gujarat.
KPI Green Energy emerged as the biggest winner, securing 100 MW at ₹3.64 per kWh, and Juniper Green Energy with 50 MW at ₹3.65/kWh. JGRJ Four Renewable, also known as Jakson Green, won 50 MW at ₹3.66 per kWh. Inox Neo Energies (Inox Clean Energy), also operating as Inox Clean Energy, also won 50 MW at the same tariff of ₹3.66 per kWh.
The tender was initially floated in January 2025. As part of the project requirements, developers must design and build a dedicated transmission line to connect to the Gujarat Energy Transmission Corporation’s network. Developers are fully responsible for the cost of this infrastructure and must also maintain the system up to the grid connection point to ensure smooth energy delivery.
