Solar power tariff in India may fall below Rs 3 per unit. This will be even lower than thermal (coal) energy. These estimations are based on the bids which Solar Energy Corporation of India (SECI) recieved at the solar power project auction at Bhadla in Rajasthan. The expected tariff for the plant will come around Rs 2.90 per unit. This tariff is less than the rate of power generated by the coal-fuelled projects of National Thermal Power Corporation Limited (NTPC). Currently, NTPC’s average rate of power generated from coal is Rs 3.20 per unit.
More details about the arrival of low solar power tariff regime:
The bid process of the Bhadla project is run by SECI. The project consists of 750 megawatt (MW) of cumulative solar power capacity at two parks. Moreover, the total bids received at the auction were 8,750 MW. The bidders include some first-time participants in India, such as Saudi Arabia’s Alfanar. The 750 MW project is dual park project which is also a joint venture between the two companies. Saurya Urja Company of Rajasthan Ltd is building the 500 MW park, whereas, Adani Renewable Energy Park Rajasthan Ltd is developing the other 250 MW part of the project.
The tariff will be lower than the previous low of Rs 3.15 per kWh. Solairedirect SA made this record bid in an auction last week to set up 250MW of capacity at Kadapa in Andhra Pradesh. Earlier, the rate of Rs 3.30 per kWh was quoted for a 750MW project at Rewa in Madhya Pradesh. Ashvini Kumar, managing director of SECI, credits the Rewa bid with being a tipping point. The structuring in terms of payment guarantee and offtake arrangement was the trigger for the sharp drop in prices.
Indian rooftop owners have more to gain from decentralized rooftop solar plants. Utilizing empty rooftops to tap the Sun’s power at your home or office can help reduce your electricity bill for the next 25 years. It also reduces dependence on polluting sources, such as coal, keeping our environment clean.
To make this great investment for your and our country’s future:
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