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.
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).
Indian solar developer Azure Power has commissioned a 95MW solar power plant in Gujarat as the first phase of a 260MW capacity award from the distribution company Gujarat Urja Vikas Nigam Ltd (GUVNL) .
Large-scale solar bids in India have once again matched their lowest price of INR2.44/kWh (US$0.034) in a 500MW auction in Gujarat held by the utility Gujarat Urja Vikas Nigam (GUVNL).
