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Gujarat cancels 700 MW solar auction due to high tariff : Report

The Gujarat government has reportedly cancelled the 700 MW solar auction. According to ET the state government cancelled the auction that was held in December last year on the grounds that the winning tariffs were too high.

The decision was conveyed to the winning developers at a recent meeting. The meeting was attended by Gujarat’s additional chief secretary Raj Gopal and officials of GUVNL.

The report further states that entire 700 MW solar auctions was won by foreign players, SB Energy bagged 250 MW at Rs 2.84 per unit, while Fortum and Engie bagged 250 MW and 200 MW respectively at Rs 2.89 per unit.

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