Gujarat, India to open auctions for 500MW of solar projects

This is under the reverse-auction mechanism.

Gujarat government in India is oepning tenders to set up 500MW of solar projects under the reverse-auction mechanism. This model provides project develompent to bidders with the lowest tariffs for selling power.

The state has also provided another 500MW under the "greenshoe option" which allows it to delegate capacity to companies who are amenable to matching the lowest tariff in the auction for the initial 500MW.

The reverse-auction mechanism is to be compeleted in the final week of March.