US-based UPC Solar's special purpose vehicle Paryapt Solar submitted the lowest bid in Gujarat Urja Vikas Nigam's (GUVNL) recent oversubscribed 500 MW auction, offering a tariff of INR2.55 (~$0.035)/kWh for a 50 MW project. However, there is concern GUVNL could scrap the auction after it emerged that the fifth-lowest bid, offered by Juniper Green Energy, Adani Renewables and Gujarat State Electricity, was INR2.67. The 12-paise difference may prompt further GUVNL scrutiny. The three companies bid for projects of 75 MW, 120 MW, and 150 MW respectively.
US-based UPC Solar's special purpose vehicle Paryapt Solar submitted the lowest bid in Gujarat Urja Vikas Nigam's (GUVNL) recent oversubscribed 500 MW auction, offering a tariff of INR2.55 (~$0.035)/kWh for a 50 MW project. However, there is concern GUVNL could scrap the auction after it emerged that the second-lowest bid, offered by Juniper Green Energy, Adani Renewables and Gujarat State Electricity, was INR2.67. The 12-paise difference may prompt further GUVNL scrutiny. The three companies bid for projects of 75 MW, 120 MW, and 150 MW respectively.