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)
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