A 500 MW wind power auction in the Indian state of Gujarat has seen tariffs tumble. Project capacity is limited to 25MW if it supplies power to one state, and 50MW if it supplies more than one. Wind prices fell to INR2.43/kWh ($38.88/MWh) by the time bidding closed on 21 December, undercutting even the lowest tariff of INR2.44/kWh from earlier in the year. The price drop is a result of falling demand for electricity and rising costs due to higher energy prices.
A 500 MW wind power auction in the Indian state of Gujarat has seen tariffs tumble. Wind prices fell to INR2.43/kWh ($38.88/MWh) by the time bidding closed on 21 December, undercutting even the lowest tariff of INR2.44/kWh from earlier in the year. The price drop is a result of falling demand for electricity and rising costs due to higher energy prices.