Two of nine Gujarat wind auction winners agree to cut tariffs
BENGALURU: Two of the nine winners of Gujarat’s latest wind energy auction, including Singapore-based Vena Energy, have agreed to a condition that power purchase agreements will be signed only with companies that cut tariffs to match the lowest bidder.
The remaining six including Inox Wind, Renew Power, Adani and France’s EDF have declined.
Pressuring developers after an auction to lower tariffs to match that of the lowest bidder is increasingly becoming a tactic to keep prices low.
Gujarat awarded 745MW of wind projects to nine developers after an auction in May at tariffs ranging from Rs 2.80 per unit to Rs 2.95 per unit. The state distribution company asked all the winners to match the lowest tariff of Rs 2.80 quoted by Enerfra if they wanted power purchase contracts.
