500MW solar auction nixed over costly bids

500MW solar auction nixed over costly bids

AHMEDABAD: Gujarat Urja Vikas Nigam Limited (GUVNL) has cancelled the 500MW solar power auction conducted on March 28, as the state power utility found the tariffs quoted by bidders to be excessively high.
Among the successful bidders,
 Kalathia Engineering and Construction had quoted a tariff of Rs 2.98 per unit for 50MW, while Gujarat State Electricity Corporation Limited (GSECL)’s price was Rs 3 per unit for 150MW. ACME Solar Holdings and Azure Power quoted Rs 3.06 per unit each for 100MW and 200MW, respectively.

However, GUVNL’s auction for 500MW last September had seen the discovery of the lowest tariff at Rs 2.65 per unit, while the all-time low rate of Rs 2.44 per unit, discovered in the 500MW auction carried out by
 Solar Energy Corporation of India(SECI) in May 2017.