BENGALURU: Gujarat’s second attempt to auction projects at Raghanesda Solar Park generated tariffs that were substantially lower than the first sale in January, which had been scrapped.
French utility Engie got 200 MW in Thursday’s auction by bidding Rs 2.65 per unit. State-owned Gujarat State Electricity Corporation Ltd. won 100 MW at Rs 2.68 per unit and Gujarat Industries Power Company LtdNSE 0.58 %. won 100 MW at Rs 2.68 per unit. Tata PowerNSE 1.24 % won 100 MW at Rs 2.70 per unit.
Gujarat Urja Vikas Nigam Ltd., the state distribution company, had cancelled the results of the first auction for these projects because the winning tariffs ranging from Rs 2.84 to Rs 2.89 per unit were considered too high.
