Gujarat 700 MW tender get bids of 600 MW

Indian state of Gujarat’s 700 MW solar auction at Raghanesda Solar Park has attracted bids of 600 MW despite having an aggressive ceiling price of INR 2.70 ($0.034) per kWh, according to Indian newspaper »The Economic Times«. The state’s renewable energy agency Gujarat Urja Vikas Nigam (GUVNL) had cancelled the first auction for the same projects held in January, because it found the lowest discovered tariff of INR 2.84 per unit to be too high. The January auction had attracted bids of 1,250 MW.
As reported, in March last year GUVNL) has scrapped the auction for the development of 500 MW of grid-connected PV projects in the state. GUVNL has also returned the performance bank guarantees submitted by the bidders. The winning tariff reached INR 2.98 ($0.042) per kWh.

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