The government has decided to reject the sole bid it had received from Azure Power for its first ever manufacturing-linked solar tender following dissatisfaction with the quoted price, power and renewable energy minister RK Singh said.
The tender in question, said to be the world’s largest of its nature, was floated in May last year by the Solar Energy Corporation of India (SECI) for setting up 10 GW power project capacity linked with 3 GW equipment manufacturing.
The tender was undersubscribed by 8 GW and NYSE listed Azure Power was the only developer which submitted the bid in the techno-commercial stage in November last year.
“We found the price quoted by the bidder to be unreasonable and hence we have decided to cancel the bid,” Singh told reporters on Tuesday.
ET reported on December 23 last year that SECI was renegotiating the tariff quoted by Azure, since reverse auction was not possible in the absence of multiple players.