UPNEDA announces re-bidding of 500 MW PV projects

The Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has announced the rebidding of 500 MW of grid-connected photovoltaic (PV) projects through competitive bidding. This comes after the state annulled the recent auction for the development of 1 GW of grid-connected solar PV projects, which was won by Adani Green Energy Limited. UPNEDA cited the high tariff of Rs 3.48 per kWh as the reason for cancelling the auction.