All foreign bids win! Indian bids are no where in the race!

Gujarat tender for 700 MW of solar power plant was won by three international bidders. One, SB Energy funded by the Japanese Softbank bidding at Rs.2.84 per kWh. While the French Engie and the Finnish Fortum bid at Rs.2.89 per kWh. While the Finns and the Japanese took 250 MW each, Engie took 200 MW, totalling to the required 700 MW.  High interest rates have put away most of the Indian bidders unless they are funded by a foreign funding firm, the project becomes unviable at these price levels. Therefore, it has become a standard practice now for international bidders to take away Indian projects! 

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