Flop show again: Solar energy auction fails to woo bidders


Flop show again: Solar energy auction fails to woo bidders

The government’s efforts at accelerating green energy capacity through large-scale auctions suffered a jolt yet again on Friday as bidders shunned the auction for 1,200-MW ‘hybrid’ projects, forcing staterun Solar Energy Corporation of India to extend the deadline for the fifth time.

This is the second renewable project auction to have flopped in a month as policy paradox kept investors away taking the aggregate capacity to have been annulled till date to over 10.8 GW (giga watt).This could deal a blow to the Centre’s target of installing 175 GW (giga watt) renewable energy capacity by 2022.

The tender for the hybrid projects, which entail housing wind and solar power units at the same site, has been extended till November 14. Investors kept away in spite of the tender being halved from 2,500 MW. Read More

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