During the auction for a 250 MW capacity for Adani Renewable Energy Park in Bhadla, Rajasthan, the solar tariff fell to a new low of Rs 2.62 per unit. The previous low in tariff was  at an auction in Andhra Pradesh where the price was set at Rs 3.15 per unit. In the auction, Phelan Energy Group and Avaada Power, companies based in South Africa won the bid to build capacities of 50 MW and 100 MW by bidding at Rs 2.62 kWh per unit.

This low also beats the average price of power generated at the coal based plants owned by India’s largest power generation utility, NTPC Ltd. India is set to come to the position of being the third-biggest solar market globally in 2017 to  fulfill the 8.8 GW capacity addition projected for the year.

The article can be accessed here.

Our analysis of the previous lows seen in solar tariff can be accessed here.