July 3 (Renewables Now) - Solar tariffs in India fell to INR 2.44 (USD 0.036/EUR 0.031) per kWh, matching their lowest level ever, in the Solar Energy Corporation of India's (SECI) 2-GW solar auction, the Economic Times reported today.
The last time solar tariffs fell that low was in May 2017 in an auction for a 500-MW portion of the Bhadla solar park in Rajasthan, carried out by SECI.
Solar tariffs in the country have been moving up since. The Economic Times said that according to industry sources the tariffs drop could be due to the policy changes in China and an expected decline in module prices as Chinese manufactures seek to export to counter falling domestic demand.
The lowest bid in the auction for 2 GW of Inter State Transmission System (ISTS)-connected projects came from Acme Solar, which secured 600 MW. The other winning bids varied from INR 2.52 to 2.54 per kWh. Shapoorji Pallonji, Hero Solar, Mahindra Susten won 250 MW each, Azure Power (NYSE:AZRE) was awarded 600 MW, while Mahoba Solar got 50 MW.
(INR 100 = USD 1.458/EUR 1.251)