India’s uniquely complex bidding quagmire


16 July 2019 |

Gujarat has asked winning bidders in its May 2019 wind auction for 1,000 MW projects to match the lowest tariff of INR 2.80/ kWh bid by Enerfra, a local developer. Seven other winners including Adani, ReNew, Greenko, EdF, Vena, INOX and Powerica, who had bid tariffs between INR 2.81-2.95/ kWh have been told that PPAs will be not signed unless developers reduce tariff to INR 2.80/ kWh. Meanwhile, Acme, India’s largest solar developer, is seeking to cancel its 600 MW winning bid of INR 2.59/ kWh in a 2,000 MW solar auction completed by NTPC in August 2018. The company’s argument is that its project has not been approved by the Telangana state regulator in the stipulated timeframe of 2 months – a condition precedent in the PPA – allowing it to terminate the PPA.


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