Gujarat Solar – Central Government steps in to salvage 700 MW auction

According to Bloomberg, ” Gujarat Urja Vikas Nigam Ltd., the parent body for electricity development in Gujarat, had awarded the contracts to firms, including ReNew Power, Tata Power Co. and state-run SJVN Ltd. for building solar capacity at tariffs of as much as 2.81 rupees (4 cents) a kilowatt hour.

The state’s attempt to override an existing accord to search for lower auction prices is the latest in a series of such breaches that have roiled the country’s renewable energy industry. “

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