Tariffs at a recent 500 MW solar auction held by Gujarat Urja Vikas Nigam Limited (GUVNL) rose after developers gave it a wide berth over safeguards concerns. The tariff was set to be auctioned on the same day as another project in Gujarat, which is also being built with state funds.
Tariffs at a recent 500 MW solar auction held by Gujarat Urja Vikas Nigam Limited (GUVNL) rose after developers gave it a wide berth over safeguards concerns. Despite being tipped to draw "intense competition" and having change-of-law provisions in place, the lowest price drawn by the tender was INR2.98/kWh ($0.046), submitted by Kalthia Engineering and Construction for 50 MW of capacity, INR0.35-0.40/kWh higher than last year's GUVNL's tender.