Solar Tariff Hits All-Time Low: Report

New Delhi: Solar power tariff dropped to an all-time low of Rs 4 per unit in bidding for the 750 MW solar power project at the Bhadla solar park in Rajasthan.

"Solar Energy Corporation of India (SECI) has finalised a tender issue for 750 MW solar PV projects in Bhadla solar park, Rajasthan at record low tariff for power sale of Rs 4 per unit with VGF (viability gap funding) support," a source said.

"With this, SECI has completed auction of more than 5 GW (total being 5,410 MW) under VGF scheme in a span of less than 15 months. Out of this power purchase agreements (PPAs) signed for 2,520 MW and PSA (power supply agreements) signed for 2,725 MW," the source added,

Earlier in January, the solar power tariff had touched a record low with Finland-based energy firm Fortum Finnsurya Energy quoting Rs 4.34 a unit to bag the mandate to set up a 70 MW solar plant under NTPC's Bhadla solar park tender.

Previously, in November last year, the solar power tariff had dipped to a low of Rs 4.63 per unit following aggressive bidding by US-based SunEdison, the world's biggest developer of renewable energy power plants.