gujarat

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.

India added 883MW of rooftop solar in the first nine months of 2020, despite COVID-19 and the implementation of lockdowns impacting the sector.

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.

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Analyst welcomes land solution of renewables capacities in border states but questions transmission, security and scale.

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Ceiling price set at INR2.75/kWh and the L1 price for the auction ends at same level.

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.

One analyst says latest poor show of interest is part of a worrying trend in cancellations and under subscriptions.

Gujarat Urja Vikas Nigam Limited (GUVNL) has auctioned 500MW of grid-connected solar capacity with winning tariffs in the range of INR2.55-2.66/kWh (US$3.6-3.8 cents).