Foreign developers swept Gujarat solar auctions

Foreign developers recently won all 700 MW bid by Gujarat Urja Vikas Nigam Ltd in a solar auction, and SoftBank-backed SB Energy won 250 MW with a minimum tariff of Rs 2.
84 per 2.
84 rupees
.

Finnish developer Fortum also loaded 250 MW, while French major Engie received 200 MW, both priced at INR 2.
89 per India
.
GUVNL's last auction for 500 MW in September received the lowest tariff
of Rs 2.
44 per Rs 2.
44.

Developers and analysts have welcomed the appreciation of 40 paise, as developers have been looking to win projects with less enthusiasm than unrealistically low prices
for some time.

One developer said, "The tariff hike is an encouraging sign
.
This means that sanity has returned to the market
.
People are now considering higher capital costs as well as currency volatility
.
”

Experts say another reason for the increased tariffs is that the projects must be located in a solar park, unlike
the last auction.

The managing director of solar consultancy Bridge To India said, "The tariff is $40 higher because of the solar park charges
.
He also noted that several large developers are now less willing to win projects at all costs because they have built a large pipeline
of solar projects this year.

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