Solar power rate touches record low

Solar power rate touches record low

Solar power rate touched a record low in Madhya Pradesh with per unit tariff coming down to as low as Rs 3 per unit. Auction for world’s biggest solar power park in Rewa district of the state, which began at 10 am on Thursday, was going on till the time of writing this story. The lowest bids received for all three units till 11.30 pm was Rs 3.13 per unit.

Eighteen bidders, including 5 foreign firms, are participating in auction. The project will be given to developer that offers lowest bids.

The unit-wise base prices at which the auction started are Rs 3.59 for first unit, Rs 3.61 per unit for second unit and Rs 3.62 per unit for the third unit. Within hours, the rates became lower than Rs 3.23 per unit. The entire team of officials of Madhya Pradesh Urja Vikas Nigam was present at meeting hall of Nigam since 10 am, keeping a close eye on auction on a big screen. Sources said as the auction did not stop and bidders continued to bid.  Read More…

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