Juniper Green Energy Fully Commissions 150 MW Wind-Solar Hybrid Project in Gujarat

Juniper Green Energy Limited has fully commissioned its 150 MW wind-solar hybrid power project in Gujarat, built to supply electricity to Gujarat Urja Vikas Nigam Limited (GUVNL) under a 25-year power purchase agreement (PPA). In a disclosure filed with the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company stated that the last 5 MW wind turbine at the project site was commissioned on October 12, 2026. Officials of the Gujarat Energy Development Agency (GEDA) and Paschim Gujarat Vij Company Limited (PGVCL) witnessed and confirmed the commissioning, and the formal certificate is expected to be issued shortly.

Project Configuration and Commissioning Timeline

The project is held directly by the listed parent, Juniper Green Energy Limited, rather than through a project subsidiary. Against a contracted capacity of 150 MW, the company’s portfolio disclosures place the planned installed capacity at 190 MWp, with the solar and wind components built in phases.

The solar component came first, with 140 MWp commissioned by June 30, 2026. The wind component, connected at the Charadva substation of Gujarat Energy Transmission Corporation Limited (GETCO), followed in three stages over roughly a month:

Each wind tranche was witnessed by GEDA and PGVCL officials, as recorded in the company’s filings. Taken together, the completed plant pairs 140 MWp of solar capacity with 50 MW of wind capacity.

From Auction to Commissioning

The project traces back to GUVNL’s Request for Selection (RfS) issued on November 1, 2023, for procuring power from 500 MW of grid-connected wind-solar hybrid projects (Phase I) that could be located anywhere in India, with a greenshoe option of up to 500 MW more. According to the Gujarat Electricity Regulatory Commission (GERC), the tender drew three technically qualified bidders offering a combined 350 MW, and an e-reverse auction for 280 MW was held on January 22, 2024.

Juniper Green Energy brought its tariff down from ₹3.27 per unit in its financial bid to ₹3.04 per unit at the close of the auction and secured 150 MW. KPI Green Energy won 50 MW at ₹2.99 per unit, while the third bidder fell outside the permitted L1+2% range. Both successful bidders declined the greenshoe allocation, limiting the total award to 200 MW. GUVNL issued Letters of Intent on March 14, 2024, and GERC adopted the discovered tariffs through its order dated June 25, 2024 (Petition No. 2347 of 2024), directing GUVNL to execute the PPAs.

In the same order, the Commission noted that this was GUVNL’s first hybrid tender and that the discovered range of ₹2.99–3.04 per unit was lower than hybrid tariffs discovered by central agencies around that period, including ₹3.15–3.21 per unit in a Solar Energy Corporation of India auction and ₹3.43–3.49 per unit in an SJVN auction.

Key Commercial Terms

• PPA term: 25 years from the scheduled commercial operation date.
• Tariff: ₹3.04 per kWh, as adopted by GERC.
• Declared CUF: 30% on contracted capacity, with annual supply required to stay between 90% and 120% of the declared value.
• Equipment norms: the RfS permitted only wind turbine models listed in MNRE’s Revised List of Models and Manufacturers (RLMM) and solar modules included in List-I of the Approved List of Models and Manufacturers (ALMM).
• Expected supply: at the declared CUF, 150 MW of contracted capacity works out to roughly 394 million units of electricity a year.

Impact on Juniper’s Operating Portfolio

The completion lifted the aggregate operational capacity of Juniper Green Energy and its subsidiaries to approximately 2,745 MWp, along with about 603 MWh of battery energy storage systems (BESS), as of October 12, 2026. The figure stood at around 2,639 MWp and 500 MWh on September 10, when the first wind tranche of this project was reported.

Hybrid assets form a large share of the company’s pipeline. As of August 27, 2026, its wind-solar hybrid portfolio comprised 17 projects totalling about 3,931 MWp, alongside 2,571 MWp of under-construction awarded hybrid capacity. In Gujarat, a second GUVNL contract, the 120 MW Hybrid Phase II project, had 70 MW in operation by mid-September 2026, according to the company.

Why It Matters

GUVNL purchases power in bulk on behalf of Gujarat’s four state distribution companies, and long-term renewable contracts such as this one help them meet the renewable purchase obligations (RPO) set by GERC, under which the total RPO requirement rose to 20.70% for FY 2024-25. The tariff, fixed for the full PPA term, also gives the state utility a predictable cost of supply for the next 25 years.

For Juniper Green Energy, which completed its initial public offering in 2026, the project marks the conversion of a fully contracted asset into operating capacity. With the solar and wind components now complete, attention shifts to the company’s remaining hybrid and firm and dispatchable renewable energy (FDRE) projects under construction across Gujarat, Maharashtra and Rajasthan.

Official Sources

1. Juniper Green Energy Ltd – Regulation 30 intimation on full commissioning of 150 MW hybrid project, October 12, 2026 (BSE): https://www.bseindia.com/xml-data/corpfiling/AttachLive/e67637bf-2fbd-46e2-aaa0-84eda95e3e19.pdf
2. Juniper Green Energy Ltd – Regulation 30 intimation on 10 MW wind commissioning, September 11, 2026 (BSE): https://www.bseindia.com/xml-data/corpfiling/AttachHis/f35e4299-528f-46e1-bbc4-01c3858f3eff.pdf
3. Juniper Green Energy Ltd – Regulation 30 intimation on 35 MW wind commissioning, September 10, 2026 (BSE): https://www.bseindia.com/xml-data/corpfiling/AttachHis/dc9e6c43-3ad2-4d83-a245-e3a9a4fc2d93.pdf
4. Gujarat Electricity Regulatory Commission – Order in Petition No. 2347 of 2024 (GUVNL Hybrid Phase I tariff adoption), June 25, 2024: https://gercin.org/wp-content/uploads/2024/06/2347-of-2024-GUVNL-Vs.-Ms.-KPI-Green-Energy-Limited-Others.pdf
5. Juniper Green Energy – Hybrid (WSH) portfolio: https://www.junipergreenenergy.com/hybrid-wsh
6. Juniper Green Energy – Press releases (September 15, 2026 release on 101 MW wind commissioning): https://www.junipergreenenergy.com/press-release
7. Juniper Green Energy – Stock exchange filings: https://www.junipergreenenergy.com/stock-exchange-filings