Singapore, Saudi companies push Indian solar tariffs to record low
The Indian units of Singapore-based Sembcorp Industries Ltd and Saudi Arabia-based Aljomaih Holding Co won government auctions to sell solar power for a record low of 2 rupees ($0.0270) per kilo watt hour (kWh), sources said.
The tariff represented a discount of nearly a sixth from the lowest bid for solar power of 2.36 rupees in the auctions conducted by Solar Energy Corp of India Ltd (SECI) in June.
India, the world’s third-biggest greenhouse gas emitter, has set a target of raising its renewable energy to 175 gigawatts (GW) by 2022 from about 90 GW now.
