Indian utility Gujarat Urja Vikas Nigam Limited (GUVNL) has scrapped the recently conducted auction for the development of 500 MW of grid-connected PV projects in the state. According to consultancy Mercom Capital Group, GUVNL has also returned the performance bank guarantees (PBGs) submitted by the bidders. »Tariffs quoted in this auction are way more than that quoted in the GUVNL 500 MW solar auction held last year. That is why the GUVNL board has been involved and they will take the final call,« says Mercom, citing a GUVNL official.
In February 2018, GUVNL had tendered 500 MW of grid-connected PV projects to be developed across Gujarat to meet its renewable purchase obligation (RPO). In March, Kalthia Engineering and Construction emerged as the lowest bidder (L1) by quoting a tariff of INR 2.98 ($0.046) per kWh to develop 50 MW of solar PV projects.
According to Mercom, the lowest bidder quoted in this GUVNL auction is INR 0.33 ($0.005) per kWh higher than the L1 tariff of INR 2.65 ($0.0413) per kWh quoted by GRT Jewellers India Private Limited in the previous 500 MW auction held by GUVNL.
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