India: Madhya Pradesh sells PV power at lowest Indian price

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In the latest slew of low price offers, Madhya Pradesh has now topped the list with SkyPower placing its lowest bid of INR5.051 ($0.08) per kWh. SkyPower also previously won a tender in Telangana with a tariff bid of INR5.17 ($0.08) per kWh. The company has announced that it has now been awarded 150MW of solar PPAs in Madhya Pradesh. Energy experts believe that offer in Madhya Pradesh is now the lowest in India, as local media cites. The tender in the state was said to be oversubscribed 12 times.

The Ministry of New and Renewable Energy expects the price of solar energy to plummet further in states like Rajasthan, Gujarat and Uttar Pradesh as the bidding opens.

Update: The article has been corrected to reflect that the bid of INR5.051 ($0.08) in Madhya Pradesh whilst being the lowest in India, is not the lowest in the world. Berkshire Hathaway’s NV Energy got a PPA price of $0.387/kWh for electricity generated by First Solar’s 100 MW Playa Solar 2 project. (13.08.2015)