Solar power tariffs in India at an all time low of Rs 2.44 per unit for Bhadla Phase-III Project

Solar power tariffs in India at an all time low of Rs 2.44 per unit for Bhadla Phase-III Project

Team EnergyInfraPost

From the highs of Rs 12-14 a unit just two years back, solar power tariffs in India have fallen to a low of Rs 2.44 per unit in the bidding for Bhadla Phase-III Solar Power Park in Rajasthan, union minister of state for power, coal, renewable energy and mines minister Piyush Goyal said.

“Latest solar power auction at Bhadla Solar Park 3 sets new record with electricity tariff of Rs 2.44/unit,” Goyal tweeted on Friday. Solar Energy Corporation of India (SECI) is developing the 500 MW solar park at Bhadla with Saurya Urja Co. of Rajasthan Renewable Energy Corp. Ltd.

In a bidding conducted by the Solar Energy Corporation of India (SECI) for the 500-Mw Bhadla solar power park in Rajasthan, ACME emerged as the lowest bidder and won the top slot by quoting Rs 2.44 a 200 MW unit. ACME’s bid was closely followed by Japan’s SoftBank Energy with Rs 2.45 for 300 MW.

Solar Energy Corporation of India (SECI) is developing the 500 MW solar park at Bhadla with Saurya Urja Co. of Rajasthan Renewable Energy Corp. Ltd.

Just two days ago, for a 250-MW segment of the park developed by Adani Power, South African company Phelgan Energy Group and Avaada Power Group, promoted by Vineet Mittal’s Welspun Energy, quoted Rs 2.62 a unit. SoftBank Energy quoted a litlle less at Rs 2.63 a unit.

The tariff in Bhadla has been fixed for 25 years with no escalation and the bidders have sought no viability gap funding from the government, officials said.

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