Paryapt Solar, a special purpose vehicle by UPC Solar, has emerged as the lowest bidder by quoting a tariff of ₹2.55 (~$0.035)/kWh to develop 50 MW in the recent auction conducted by the Gujarat Urja Vikas Nigam Limited (GUVNL) for the purchase of power from 500 MW grid-connected solar photovoltaic power projects (Phase IV).