Gujarat invites private thermal power producers to a reverse auction for 1,000 MW of power

Gujarat has invited private thermal power producers to participate in a reverse auction to provide 1,000 megawatts (MW) of power to the state. The reserve price will be set at 4 cents per unit. The winning bidders will receive coal originally allocated to power generating stations owned by Gujarat State Electricity Corporation (GSECL). Power from GSECL’s thermal plants costs between 4 and 8 cents a unit.

Source: Financial Express