Real Assets

8 Gw Solar Bids Worth Rs 40,000 Cr Cancelled In Fy'19, Irks Investors | Business Standard News

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Auctions for around 8,000 MW solar capacities worth Rs 40,000 crore were cancelled in 2018-19, leaving developers and investors high and dry, according to an industry source. Solar project developers continued to face uncertainties in 2018-19 as central and state government agencies as well as a private distribution company cancelled bids for 8,000 MW. "Bids were invited by government (s) as well as private distribution firms to procure around 8,000 MW solar power last fiscal from newly developed capacities. But auctions were cancelled later on," the source said.