India solar tariffs at record low

India’s solar power tariffs hit a new low of ₹2 per unit on Monday at a bid by state-run Solar Energy Corp. of India Ltd (SECI), said a government official, seeking anonymity. The previous low was ₹2.36 per unit.

Saudi Arabia’s Aljomaih Energy and Water Co. and Singapore-based Sembcorp’s Indian arm, Green Infra Wind Energy Ltd, placed the winning bids of ₹2 per kilowatt-hour (kWh) to win the contracts to build a 200MW and 400MW solar power projects, respectively. State-run NTPC Ltd placed the second-lowest winning bid of ₹2.01 per unit to secure a 470MW capacity. “A record low bid price of ₹2 per unit was discovered in this auction,” he added.

Spokesperson for Aljomaih Energy could not be immediately contacted. Spokespersons for Sembcorp Industries and NTPC refused to comment.