Tata Power wins 250 MW in Gujarat solar auction - report

Solar power system. Author: Mountain/ \Ash. License: Creative Commons, Attribution 2.0 Generic.

May 22 (Renewables Now) - The renewable energy unit of Tata Power Co Ltd (BOM:500400) has won a solar power auction in the Indian state of Gujarat with a bid for 250 MW of capacity.

An executive at Gujarat Urja Vikas Nigam Limited (GUVNL), which allocates the capacity, has confirmed the news for The Economic Times (ET).

The only other company that took part in the process was state-owned Gujarat Industries Power Company Ltd (GIPCL), bidding for 50 MW. Both proposals were at the ceiling tariff of INR 2.75 (USD 0.039/EUR 0.035) per kWh, according to the report.

The auction targeted 1,000 MW of project for construction at the Dholera solar park, but developers were pushed away by what they believe is an unviable ceiling tariff, the ET said.

(INR 10 = USD 0.143/EUR 0.128)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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