Indian solar auction today to go below INR 3/kWh - report

A base price of just INR 3,010 (USD 47/EUR 42.8) per MWh has been reached ahead of the reverse auction today for 250 MW at the Bhadla solar park in the Indian state of Rajasthan, Mint reports, citing an informed person.

Total of 27 bids have been received and 14 bidders have been shortlisted for the competition.

Recently, a tender for 250 MW of solar power generation capacity in Kadapa, Andhra Pradesh got a record-low bid of INR 3,150 per MWh from Solairedirect, a unit of French utility Engie (EPA:ENGI). Now there is a real chance to see the solar power tariff fall below INR 3,000/MWh in the tender.

Solar Energy Corp of India (SECI) is holding the tenders for two solar photovoltaic (PV) projects at Bhadla of 250 MW and 500 MW, respectively. The reverse e-auction for the latter will take place on May 11, the source told Mint.

(INR 100 = USD 1.55/EUR 1.42)

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