Gujarat government cancels 700 MW solar auction

The Gujarat government has cancelled the solar auction for 700 MW of capacity, held in December 2018, citing high tariffs. Foreign players had won the entire 700 MW with Softbank-backed SB Energy getting 250 MW at Rs 2.84 per unit, and Finland’s Fortum as well as France’s Engie getting 250 MW and 200 MW, respectively, at the same price of Rs 2.89 per unit.