Rewa becomes case study for solar bids

E-auction for 500 Mw at Kadapa solar park in Andhra put off due to a rethink on project conditions

While the Rewa Ultra Mega Solar (RUMS) park's seemingly unrealistic rate of award hinges on the availability of cheap finance for a longer tenure, it has had an unlikely impact in Andhra Pradesh. 

The e-auction for 500 Mw at the Kadapa solar park in that state was cancelled earlier this week because of a rethink on project conditions.

The three units of RUMS last week attracted a first-year bid rate of Rs 2.97 for its three 250-Mw units. After a fixed escalation of Rs 0.05 per year till 15 years of operation, it works out to a levelised Rs 3.3