Tariffs at a recent 5 crore solar auction held by Gujarat Urja Vikas Nigam Limited ( plc ) rose after developers gave it a wide discount over safeguards concerns . Despite being tipped to draw " intense competition " and having change - of - price provisions in place , the lowest price drawn by the auction was INR2.98 / kWh ( $ 0.046 ) , submitted by Kalthia Engineering and Construction for 50 MW of capacity , 0 - 0.40 / kWh higher than last year 's GUVNL 's tender .
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.