The Uttar Pradesh New and Renewable Energy Development Agency is tendering for 500 MW of solar capacity in a reverse auction later this month. In the first auction, held last year, India won two projects worth Rs 4,800 crore. 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%.
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%.