Gujarat Solar Electricity (img: Freepik, Envato Elements)

The Gujarat Urja Vikas Nigam Ltd (GUVNL), operational under the Gujarat government, sabotaged a project deal of 2,500 megawatts (MW), with around 4,000 investors installing solar power plants, bound to supply electricity at ₹2.83 per unit.

Instead, the government company went to private players, and bought electricity at a rate lying somewhere around ₹3.16 to ₹5.74 per unit.

This has certainly proven to be loss-making for the investors. Alongside, it has also been detrimental for the 1.30 cr electricity consumers for the last two years.

The process to close the deal has been underway for the past two years, and its spoils will be seen in the upcoming days.

Launched as Small Scale Distributed Solar Projects (SSDSP), it initially could not garner significant investments. However, with time, the government convinced the investors, and some poured heavy money into this project.

But in 2019, after finalising, the agreements were terminated, and they were denied the subsidy benefits against their investments. Large private firms were given an open door, resulting in their exponential profits.

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