GUVNL’s Bid - Coal India Marks Entry In Solar; NTPC Remains Competitive: ICICI Securities
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ICICI Securities Report
In the latest round of auctions conducted by Gujarat Urja Vikas Nigam Ltd. (Gujarat discom) to set up 500 megawatt grid-connected solar photovoltaic projects, Coal India Ltd. made a surprise entry.
Out of nine participants, the winners included NTPC Ltd., Sprng Energy, Coal India and Tata Power Saurya Ltd. quoting Rs 2.2/kilowatt-hour for a cumulative total of 430 megawatt, and Satluj Jal Vidyut Nigam Ltd. quoting Rs 2.21/kWh for 70MW.
With Coal India’s entry in the renewables auction space, the competitive environment around bids, especially those conducted by financially sound Discoms, is expected to heat up further.
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