India to invite bids for 8 Gw wind power projects annually till 2030

The auction model had led to an artificial lowering of prices

wind power
The bidding model has been modified from electronic reverse bidding where the participants reduce their offer price to bag the contracts based on the lowest bid
Reuters NEW DELHI
1 min read Last Updated : Jan 12 2023 | 9:05 PM IST

By Sarita Chaganti Singh

NEW DELHI (Reuters) - India will annually invite bids for 8 gigawatt projects each year to the end of 2030 under a new auction process, a government order said.

The bidding model has been modified from electronic reverse bidding where the participants reduce their offer price to bag the contracts based on the lowest bid. The auction model had led to an artificial lowering of prices.

(Reporting by Sarita Chaganti Singh; Editing by Toby Chopra)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Topics :wind powerWind Power Projectswind power generationwind power sector

First Published: Jan 12 2023 | 9:05 PM IST

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