Madhya Pradesh solar bids bottom out at Rs2.99 per unit in reverse auction

Madhya Pradesh solar bids bottom out at Rs2.99 per unit in reverse auction

Is Rs3 per kWh the new normal for Indian solar power tariff? The ongoing auction for world’s largest solar power plant in Madhya Pradesh heralds the trend with tariffs hovering at a low of Rs2.99 per unit in the ongoing reverse auction for the 750 mega watt (MW) capacity.

The auction, which is still on since Thursday, saw prices plunge to Rs 2.99 per unit for all the three packages of 250 MW each. Of the 20 initial bidders, the firms still in the fray include Green Infra Wind Power Project Ltd, SBG Cleantech Ltd and Enel Green Power SpA.

While Green Infra is promoted by Sembcorp Industries Ltd, SBG Cleantech Ltd is promoted by Japan’s Softbank.

“The reverse auction which went on all night is still on,” said a person aware of the development requesting anonymity. Read More…

Credit By : Livemint.com

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