Tariffs in the Uttar Pradesh New and Renewable Energy Development Agency’s (Upneda) latest auction on Wednesday fell significantly from the last one held in July, but later cancelled without assigning any reasons.
The earlier auction of 1,000 MW had seen the lowest tariffs at Rs 3.48 to Rs 3.55 per unit. The auction was arbitrarily cancelled after a fortnight with many in the industry speculating that it was because the state government felt the price reached was too high.
The lowest tariffs reached at Wednesday’s auction of 500 MW were between Rs 3.17 and Rs 3.23 per unit, seeming to justify the state government’s decision. Read more
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