New Record Low Tariff of 2.20 INR/kWh in India

Lowest Indian Bid Of $0.034/kWh Received In 500 MW Rooftop Solar SECI Tender Even Beats Latest Record Low Solar Park Tariff
05:37 PM (Beijing Time) - 26. July 2017
n_tender_New Record Low Tariff of 2.20 INR:kWh in India_ab 2017-07-2

The lowest rooftop PV project tariff of 2.20 INR per kWh that was bid in SECI’s 500 MW solar rooftop tender is even lower than the lowest tariff for large scale PV in India. ACME Solar won 200 MW of solar power capacity for a tariff of 2.44 INR at the recently held auction for Bhadla Solar Park Phase III.

Key Takeaways

  • New record low solar tariff record received in Solar Energy Corporation of India’s 500 MW solar rooftop tender even beats latest record low tariff in Bhadla Solar Park Phase III
  • The lowest tariff of 2.20 INR ($0.034) per kWh has been offered by Mundra Solar PV Limited for Andaman & Nicobar Islands
  • Highest bid is 4.59 INR ($0.071) per kWh for the state of Bihar
  • Bidders now have to complete due diligence of the discovered project cost/tariff regarding their decision for state wise price matching

India is seeing a new new record low solar tariff bid that unlike in the past was quoted for a rather small system in a rooftop tender. The Solar Energy Corporation of India Limited (SECI) has published the list of tariffs quoted for its 1,000 MW Solar Rooftop Tender that it floated in December 2016 (see India Launches 1 GW PV Rooftop Tender). The lowest tariff of 2.20 INR ($0.034) per kWh for the so-called RESCO model has been quoted by Mundra Solar PV Limited for a 11.2 MW project on Andaman & Nicobar Island. The highest bid is at 4.59 INR ($0.071) per kWh for a 9.6 MW project in Bihar.

The record low rooftop tariff of 2.20 INR ($0.034) per kWh is even lower than the lowest tariff for large scale PV in India. Recently, ACME Solar won 200 MW of solar power capacity at the auction for Bhadla Solar Park Phase III (see ACME Wins 200 MW At 2.44 INR Record).

The final bidders list published by SECI is accessible on its website. It includes 35 bidders for the so-called CAPEX project with a total capacity of 50.46 MW and 35 bidders for the RESCO model with a combined capacity of 454.16 MW.

The agency has now asked bidders to complete due diligence of the discovered project cost/tariff regarding their decision for state wise price matching.

SECI had originally launched the project with 1,000 MW of rooftop tender capacity. After conducting a detailed GPS and physical survey of government buildings across the country, it brought down the capacity to 500 MW. It then also reduced the benchmark tariff for the tender. For general category states and union territories, it was set at 5.97 INR ($0.092) per kWh and for special category states and islands, it was decided to be 4.42 INR ($0.068) per kWh (see Reduced Benchmark Tariff For SECI Tender).  

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani