Andhra Pradesh receives solar bids for 6,400 MW at Rs 2.48/kWh

HYDERABAD: Andhra Pradesh said it has received bids for 6,400 megawatts of solar power plants at a low tariff of Rs 2.48 per kilowatt an hour (kWh) through reverse tenders and that it has ensured savings of Rs 3,800 crore in the first year.

In a late Thursday statement, the state government said it expects to save Rs 50,000 crore during the project’s concession period of 30 years, helping it to successfully meet the subsidy burden on account of the supply of free power to farmers.