Price of wind power crashed to Rs 2.43 a kWhr in tariff-based capacity auction of Gujarat’s utility, Gujarat Urja Vikas Nigam Ltd (GUVNL). GUVNL has announced that a company called Sprng Energy Pvt Ltd has quoted that price, bidding for 197.5 MW of the 500 MW auctioned by GUVNL.
Tariff-based auction of capacity, common in the solar segment, is fairly new for the wind industry. This is the third time in the country that wind power capacity is being auctioned. Those who quote the least prices will get to sign power purchase agreements, whereupon they would put up the wind power plants and sell the power at the agreed price. Earlier, the price at which wind energy companies would sell the power to the utilities used to be fixed by the respective state’s electricity regulatory commission, which would fix the tariff from time to time for a specified period, applicable for projects that would come up within that period. Read More…
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