India government-owned NTPC Renewable Energy has been given approval by India’s Ministry of New and Renewable Energy (MNRE) to build a 4.75GW solar project in Gujarat, India.
Indian utility Gujarat Urja Vikas Nigam Limited has auctioned 500MW of PV capacity, with winning bids setting a record for the lowest solar tariff seen in India.
Analyst tells PV Tech the low tariff ceiling (INR 2.65) set for tender in Indian state is thought to be a major issue amid heightening uncertainty from coronavirus.
The first auction for capacity at the Raghanesda Solar Park in the Indian state of Gujarat was scrapped due to high tariffs, but a second attempt has drawn far lower tariffs.