Andhra 6.4 GW solar auction gets lowest bid of Rs 2.47/unit
The Andhra Pradesh government has received the lowest bid of Rs 2.47/unit against tenders invited in December 2020 to build 6,400 mega-watt (MW) solar power capacity in the state. Adani Group, Torrent Power and state-run NTPC are learnt to be among the lowest bidders, with Adani itself offering the most competitive rates for 3,000 MW. However, since the Andhra Pradesh High Court has ordered the state government not to sign any contract regarding the auction until further hearings on the matter, the state will issue letters of award to the lowest bidders subject to the outcome of the case.
Tata Power had moved the HC seeking a stay on the auctions, claiming that the bid documents state that payment-related disputes for the plants will be taken up by the state government mechanisms instead of the electricity regulator, which is not legally tenable.
The lowest bid discovered in solar auctions so far was Rs 1.99/unit quoted for a clutch of Gujarat projects in December.
