GUVNL tender for power procurment finds no bidders

Gujarat Urja Vikas Nigam Limited’s tender for procurement of 1,000 MW of coal-based power witnessed no participation from private players owing to the low ceiling price of the tariff. As per the tender, independent power producers (IPPs) were required to quote a price lower than Rs 2.82 per unit in order to get coal (originally earmarked for the state genco), which was considered financially unviable by the IPPs.