Indian renewables-plus-storage tender secures power for $0.038/kWh

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The Solar Energy Corporation of India has concluded its 400 MW ‘round-the-clock’ renewables tender to supply 24-hour electricity.

With bids received for almost 950 MW of generation capacity, Haryana-based developer ReNew Power secured both projects by agreeing to accept INR2.90/kWh ($0.0382315) generated. The tariff will increase by 3% per year for the first 15 years of the 25-year power supply deal secured by ReNew before becoming a fixed payment.

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