Gujarat Urja Vikas Nigam Ltd (GUVNL), which is conducting the auction, confirmed the development.
In a setback for Gujarat’s renewable energy drive, its latest solar auction of 1000 MW got no bids at all because developers felt the ceiling tariff it had set was too low.
Tuesday was the last day for submitting techno-commercial bids for the 1000 MW auction, for projects to be set up at the state’s Dholera Solar Park, but not a single developer responded. The auction has now been postponed to March 19.
Gujarat Urja Vikas Nigam Ltd (GUVNL), which is conducting the auction, confirmed the development. “We heard from various bidders yesterday that they did not want to participate at the moment,” said a GUVNL executive.
The tariff was capped at Rs 2.75 per unit which developers felt was unviable for Dholera, because of its location. “The ceiling tariff is unrealistic because of the quality of the site. It is not plain land, the terrain is problematic, the construction cost there will be higher,” said a developer on the condition of anonymity.
Source: economictimes.indiatimes
