Tata Power Renewable Energy was the only developer to be granted capacity in the latest underwhelming procurement exercise to allocate projects at the unpopular Dholera solar park in Gujarat.
State utility Gujarat Urja Vikas Nigam Limited (GUVNL), which was unable to attract any bids in its previous two attempts to allocate 1 GW of capacity at the park, has awarded 250 MW to the Tata Power subsidiary after it was one of only two developers to come forward in the latest exercise.
GUVNL has doggedly stuck to a tariff ceiling of Rs2.75/kWh for projects at the park, a significant portion of which is inundated with water for several months during monsoon season. Ultimately, Tata Power Renewable Energy buckled and secured capacity at the ceiling rate.
The other bidder, state-owned Gujarat Industries Power Company Ltd, had its bid for 50 MW of capacity rejected by the commissioning utility. Read More