The Uttar Pradesh New and Renewable Energy Development Agency is tendering for 500 MW of solar capacity in a reverse auction later this month. Earlier, it tendered for 500 MW; however, the 1 GW auction was oversubscribed and scrapped because of high tariffs. Uttar Pradesh has a daily electricity requirement of 20 GW and has put in place several incentives to encourage solar developers, with the aim of increasing renewable energy's share of generation from the current just 7%.
The Uttar Pradesh New and Renewable Energy Development Agency is tendering for 500 MW of solar capacity in a reverse auction later this month. Earlier, it tendered for 500 MW; however, the 1 GW auction was oversubscribed and scrapped because of high tariffs. Uttar Pradesh has a daily electricity requirement of 20 GW and has put in place several incentives to encourage solar developers, with the aim of increasing renewable energy's share of generation from the current 7%.