The latest solar power auction in one of India’s most favored states to set up large-scale solar power projects has witnessed a sharp cut in tariff bids placed by project developers.
The Indian state of Gujarat has canceled yet another solar power tender after finding the tariff bids to be too high according to recent trends. This is the second such tender that has been canceled in Gujarat after bidding was complete.
A recent tender issued by the state government of Gujarat to set up 700 megawatts of solar power capacity garnered bids from Indian and foreign project developers, with the international companies prevailing in the end.
