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SECI Okays Lowest Solar Auction bid, Cancels Rest

23 Aug 2018

The only developer that did not get the axe was Acme Solar that won 600 MW quoting the lowest tariff of Rs 2.44 per unit.
Solar Energy Corporation of India, the nodal agency for implementing National Solar Mission, has cancelled all but the lowest priced projects allotted in its mega solar auction held on July 13, multiple people familiar with the development.
The decision to cancel allotment of 2,400 MW solar power capacity out of 3,000 MW auctioned in July was announced at a meeting of developers with government officials and Solar Energy Corporation of India (SECI) they said.
The only developer that did not get the axe was Acme Solar that won 600 MW quoting the lowest tariff of Rs 2.44 per unit.
The government found all the other allotted projects to be too expensive, developers said. “They said the difference between the lowest bidder and the second lowest was 20 paise, which was too wide,” said a developer who was present at the meeting.
Ministry of new and renewable energy secretary Anand Kumar, who chaired the meeting, declined comment.
The only developer that did not get the axe was Acme Solar that won 600 MW quoting the lowest tariff of Rs 2.44 per unit.
The government found all the other allotted projects to be too expensive, developers said. “They said the difference between the lowest bidder and the second lowest was 20 paise, which was too wide,” said a developer who was present at the meeting.
Ministry of new and renewable energy secretary Anand Kumar, who chaired the meeting, declined comment.
This is the first time auction results have been cancelled only partially, not fully.
Recently, Uttar Pradesh had cancelled a 1000 MW auction held in mid-July without assigning any reasons. Gujarat too had cancelled a 500 MW auction in February.
Industry perception in both cases was that the reason was the same – officials found the winning tariffs too high.  

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