August 3 (Solar) – The Solar Energy Corporation of India (SECI) has cancelled most of the projects awarded in its 3-GW solar tender conducted on July 13, the Economic Times reported today.
Only the award of 600 MW to Acme Solar, which offered the lowest tariff in auction — INR 2.44 (USD 0.035/EUR 0.031) per kWh — was not cancelled.
The decision was announced at a meeting on Wednesday between SECI, developers and government officials, the newspaper said, citing multiple sources with knowledge of the matter. This marks the first instance of cancelling auction results not entirely, but partially, according to the article.
The reason for the move it that the government thought the rest of the projects were too costly as the difference between the lowest bid and the next lowest was INR 0.20, developers told the daily.
(INR 100 = USD 1.454/EUR 1.255)