SunEdision to Supply Cheapest Solar Power in India

New Delhi: US-based SunEdision Inc has won a bid to sell solar power in India at a record low tariff of Rs 4.63 ($0.0706) per kilowatt-hour, an Indian government official said, which could make the renewable energy cheaper than fossil fuel-derived electricity.

The company won the auction for a 500 megawatt project in the southern state of Andhra Pradesh, Upendra Tripathy, new and renewable energy secretary, told Reuters on Wednesday.

The previous low was Rs 5.05 per kilowatt-hour, he said.

SunEdision could not immediately be reached for comments outside regular US business hours.

($1 = Rs 65.6075)