Domestic developers Avaada Power and Adani lead the way with each bidding for half the capacity available, after the state distribution company raised the maximum tariff and extended the bid deadline.
ACME Solar has bagged a 600 MW solar PV project in a reverse auction conducted by the Solar Energy Corporation of India (SECI) at a tariff of Rs 2.44 (US$0.036) per unit.
Haryana-based solar power developer has received financing in the form of flexible credit, designed to allow ACME Solar to draw on and repay funds over the duration of the loan agreement.
The latest 500 MW tender by the Solar Corporation of India (SECI) drove the tariffs under INR 2.50 ($ 0.038), making solar cheaper than fossil fuel-generated power.
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