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India solar tariffs drop to another record low. Tahara-Stubbs, Mia IJGlobal. 6/12/2017, pN.PAG-N.PAG. 1p. Article *Tariff *Solar energy *Government auctions India Solar Energy Corp. of India Ltd. 221114 Solar Electric Power Generation 911910 Other federal government public administration Goyal, Piyush, 1964- 2055-4842 136092484 Business Source Ultimate

India solar tariffs drop to another record low

Solar tariffs in India fell to another record low, of Rs2.44 ($0.038) per kWh, at the 500MW Bhadla solar reverse auction ran by Solar Energy Corporation of India (SECI). “Latest Solar power auction at Bhadla Solar Park 3 sets new record with electricity tariff of Rs 2.44/unit,” Power Minister Piyush Goyal tweeted over the weekend.

SBG Cleantech, a joint venture between Japan’s Softbank, Taiwan’s Foxconn and Bharti Enterprises, was awarded capacity of 300MW and Acme Solar Energy, the remaining 200MW at the solar farm that will be built on a 40 square kilometres site in western Rajastan.

The last historical low, of Rs2.62, was hit just last week, at SECI’s reverse auction for the 250MW Adani Renewable Energy Park in Rajasthan. Tarffis have been dropping at each SECI reverse auction held since the end of 2016.

In late February, Prime Minister Narendra Modi doubled India’s solar capacity target to 40GW by 2020. The Solar Energy Corporation of India and state governments are expected to tender out up to 50 solar parks with at least 500MW of capacity by March 2020.

The frenzied pace of procurement is set to make India the world’s third largest solar market in 2017 once its adds 8.8GW of new capacity this year, according to a Bridge to India report. Total India solar capacity is expected to expand to nearly 19GW by the end of 2017.

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By Mia Tahara-Stubbs

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