SoftBank, Axis Energy Ventures, O2, EDEN Renewables and Avaada Energy have won the contract for 2 gigawatts of solar power projects in a reverse-auction conducted by NHPC, a state-run Indian hydropower company.
People with knowledge of the matter revealed that SoftBank received the maximum 600 megawatts in the auction, followed by Axis Energy Ventures at 400 megawatts, O2 at 380 megawatts, and EDEN Renewables at 300 megawatts.
The source also told Economic Times India that Avaada Energy got 320 megawatts (against their bid for 600 megawatts).
“The bidding was aggressive and low market demand was trying to drive the price down,” said Vineet Mittal, chairman of Avaada Energy. “Our bid was competitive, and we are happy that we won against some tough competition.”
The e-reverse auction involved seven bidders with aggregate offer capacity of 3.14 gigawatts, according to Economic Times India.
