Gujarat's Torrent Power has launched possibly the first and biggest tender of its kind, for 300 MW of solar power capacity in India. The independent power distribution company will use the capacity, set to be sold in an online reverse auction, to meets its renewable purchase obligations. Analysts said Torrent's novel approach is in response to the sharp downturn in tariff bids for large-scale solar power projects.
India's Torrent Power has launched possibly the first and biggest tender of its kind, for 300 MW of solar power capacity in Gujarat. The independent power distribution company will use the capacity, set to be sold in an online reverse auction, to meets its renewable purchase obligations. Analysts said Torrent's novel approach is in response to the sharp downturn in tariff bids for large-scale solar power projects.