SoftBank En­ergy De­nies Carteli­sa­tion Al­le­ga­tions

The Economic Times - - Pure Politics - Nishtha.Saluja @times­

New Delhi: SoftBank En­ergy has de­nied al­le­ga­tions that the com­pany at­tempted to form a car­tel and in­crease so­lar power tar­iffs in a re­cent 3,000 MW ten­der, which was later partly can­celled. In a state­ment re­spond­ing to me­dia re­ports stat­ing that power min­is­ter RK Singh has writ­ten to the Prime Min­is­ter’s Of­fice al­leg­ing carteli­sa­tion at­tempt on part of SB En­ergy, the com­pany said it has stuck to bid­ding norms set by the gov­ern­ment and has prac­tised eth­i­cal norms glob­ally.

“We re­spect the open and trans­par­ent bid­ding process set by the min­istry of new and re­new­able en­ergy. We have al­ways fol­lowed this process of the re­verse auc­tion since 2015 when it was ini­ti­ated,” SB En­ergy said in a state­ment to ET. “As a global cor­po­ra­tion, we abide by the strin­gent norms of gov­er­nance and com­pli­ance with all the ap­pli­ca­ble laws and al­ways prac­tice eth­i­cal norms across the world,” it said.

The ten­der in ques­tion, floated by the So­lar En­ergy Cor­po­ra­tion of In­dia (SECI) ear­lier this year, saw a tar­iff dif­fer­ence of 27 paise be­tween the low­est and the high­est bid­ders.

SECI in Au­gust de­cided to can­cel bids re­ceived for 2,400 MW ca­pac­ity, and awarded the re­main­ing 600 MW ca­pac­ity to Acme So­lar, which quoted the low­est price at .₹ 2.44 per unit.

SB En­ergy had placed a bid for 1,100 MW ca­pac­ity quot­ing tar­iff of .₹ 2.71 per unit. Re­New Power had also placed a bid at the same tar­iff for 500 MW ca­pac­ity.

The bids were can­celled on the grounds that the dif­fer­ence be­tween the high­est and the low­est tar­iffs dis­cov­ered through the bid­ding process was much higher than the nor­mal de­vi­a­tion of around 10 paise p'er unit.

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