Indian state-owned energy company Rajasthan Urja Vikas Nigam Ltd (RUVNL) has allocated 1 GW of solar capacity in its latest auction.

The procurement's exercise final average price came in at INR 2.61-2.62 ($0.032)/kWh.

Avaada, Mahindra Susten and Sunfree Energy (SAEL) secured 200 MW of capacity each. Other winners include Blupine Energy (150 MW), Jakson (100 MW, SJVN 100 MW), and Shiva Corp. (50 MW).

The winners will deploy the projects on a build-own-operate (BOO) basis. They secured a 25-year power purchase agreement (PPA) from RUVNL for the plants.