Norway’s Scatec ASA and Saudi Arabia’s Aljomaih Energy and Water Co. are separately scouting for solar assets in India, two people aware of the development said, adding to the growing foreign investor interest in the country’s green energy assets.
India’ solar power tariffs hit a record low of ₹1.99 per unit on Saturday at an auction conducted by Gujarat Urja Vikas Nigam Ltd and are expected to decline even further. According to Mercom India, Aljomaih Energy and Water Co. was among the firms that bid the record-breaking tariff of ₹1.99 per unit. The others to bid the lowest tariff of ₹1.99 per unit were state run NTPC Ltd, Torrent Power Ltd, and Aditya Renewables.
Aljomaih Energy was one of the successful bidders in the auction run by state-run Solar Energy Corp. of India Ltd (SECI) last month. The Saudi company was among the firms that placed the lowest bid of ₹2 per kilowatt-hour (kWh) to win a contract to build a 200 megawatts (MW) solar project.
