Solar developers buy time to negotiate tariffs with Gridco

Rupee fall, uncertainty on safeguard duties rattle players; Gridco unmoved

Solar power developers who finished as L2 and L3 bidders at the recently concluded auctions in Odisha, are still dithering on tariff negotiations with Gridco, the state-controlled bulk power buyer and trader.

Gridco has been nudging the L2 and L3 bidders to scale down their quotes to the L1 level. Aditya Birla Renewables had emerged as the L1 bidder in Odisha’s maiden solar auctions, quoting a price of Rs 2.79 per unit. But, the differential between L1 and the other bidders has unsettled Gridco authorities. Three players are tied at the L2 level with a quote of Rs 3.19 per unit.