The latest reverse auction for 1,170 mega-watt (MW) of solar capacity, conducted by state-run NTPC, has discovered a tariff of Rs 2.43 per unit. This is the second lowest tariff for solar power till date and comes on the heels of the record low bid of Rs 2.36/unit received in the auction for 2,000 MW of solar capacity held on June 30. The lowest solar tariff found previously was Rs 2.44/unit in the July 2018 auction.
According to sources, O2 Power — jointly backed by Sweden’s EQT Infrastructure and Singapore-based Temasek — quoted the lowest tariff for building 400 MW solar project. Azure Power (Indian firm listed in the New York stock exchange) and Tata Power matched the lowest tariff, and have been awarded 300 MW and 370 MW, respectively. The Indian arm of Canada-based Amp Energy Green bid Rs 2.44/unit for 100 MW capacity.
