India's solar tariffs hit new low of INR 2/kWh - report

Kamareddy solar park Telangana. Photo by: SkyPower Group (www.skypower.com).

November 24 (Renewables Now) - Tariffs for solar power in India have reached a new record-low of INR 2 (USD 0.027/EUR 0.023) per kWh, local news outlet LiveMint reports, citing a government official.

The previous low was INR 2.36 per kWh, achieved at the end of June in a 2-GW tender run by state-run Solar Energy Corporation of India Ltd and was placed by Solarpack Corporacion Tecnologica SA (BME:SPK). The Spanish solar company then secured a 300-MW project.

The new lowest tariff was again quoted in a SECI tender, the unnamed official was cited as saying. With this bid, Saudi Arabia’s Aljomaih Energy and Water Co and Singapore-based Sembcorp’s Indian arm, Green Infra Wind Energy Ltd, won contracts for projects of 200 MW and 400 MW, respectively. The second lowest bid, of INR 2.01/kWh, was launched by state-run power producer NTPC Ltd (BOM:532555) for a 470-MW project.

Indi aims to have 100 GW of installed solar capacity by 2022. Currently, it stands at 34.6 GW, the report says.

(INR 10 = USD 0.135/EUR 0.114)

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