Azure Power seeks to withdraw its bids for 100 MW solar power project in Gujarat

Azure Power India Private Limited has sought cancellation of the 100 MW capacity bids that it won in 500 MW solar power auction conducted by Gujarat Urja Vikas Nigam Limited (GUVNL). A letter for the same has been submitted by Azure Power to the latter. A final decision on the same is yet to be taken.

Azure Power emerged as a successful bidder for in a reverse auction carried out by GUVNL on September 17, 2018. Azure Power had submitted the bids to develop 500 MW capacity, however, was awarded only 100 MW capacity. As per the tender document, a bidder has the option to refuse the offered capacity if it is less than 50 per cent of the total capacity quoted by the bidder.

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