From pv magazine India
News agency PTI has reported that the 500 MW solar auction by Gujarat Urja Vikas Nigam Ltd has yielded a new record low tariff of INR 1.99 ($0.0269)/kWh in India.
The new tariff is 0.5% lower than the previous record of INR 2.00/kWh secured in a 1.07 GW auction held by the Solar Energy Corporation of India (SECI).
The 500 MW procurement exercise saw state-run power producer NTPC (200 MW), Aditya Birla Renewable (120 MW), Torrent Power (100 MW), and Saudi Arab’s Aljomaih Energy and Water Co. (80 MW) placing the lowest bids of INR 1.99/kWh each, reported PTI.
GUVNL floated the tender in September. As per the tender document, projects can be set up anywhere in Gujarat. “[The successful] bidders can select the location of their projects and substations from an available-capacity list on the Gujarat Energy Transmission Corporation Limited (GETCO) website,” it read.
Interestingly, during FY2020-21, solar power tariffs have hit a new low one auction after another. Prices declined to INR 2.36/kWh in June-July 2020 and further to INR 2.00/kWh in November 2020, with INR 1.99/kWh touched recently.
An India Ratings and Research (Ind-Ra) report attributes the continuous decline in Indian solar power tariffs since the start of FY2020-21 to a mix of structural and state-specific factors.
To keep reading, please visit our Indian website.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.