India’s Torrent Power and Lanco Group were among the companies emerging as the lowest bidders in an auction to supply natural gas-fired power during periods of unusually high electricity use, a document reviewed by Reuters showed.
India relies on coal to generate about three-quarters of its electricity, and power generated from coal is typically much cheaper than that generated by gas-fired plants. Over half of the country’s roughly 25 gigawatts (GW) of gas-fired capacity is non-operational.
