Uttar Pradesh Scraps 500 MW Solar Auction, Plans to Re-Auction Hoping for Lower Bids
UPNEDA reportedly canceled the auction hoping for lower tariffs in subsequent auctions
June 3, 2021
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In a new development, the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) has canceled its 500 MW solar auction. An official statement from UPNEDA stated that the auction has been canceled in the hope of discovering lower tariffs in new auctions. The statement also cited examples of states such as Rajasthan and Gujarat where lower bids emerged out of new auctions scrapping the old ones. The auction winners are now planning to approach the Appellate Tribunal for Electricity (APTEL) for a redressal on the matter.