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India secures record-low solar tariff of $0.027/kWh

From pv magazine India

A recent 1.07 GW solar auction held by Solar Energy Corp. of India (SECI) has attracted a historic low tariff of INR 2 ($0.027)/kWh from Saudi Arab’s Al Jomaih Energy and Water Co. and Singapore-based Sembcorp’s Indian unit, Green Infra Wind Energy.

The price is 15% lower than the INR 2.36/kWh bid submitted by Spanish developer Solarpack in a previous 2 GW auction, which set an Indian record at the time.

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NTPC was the only successful Indian bidder in the latest procurement exercise. Green Infra Wind Energy secured 400 MW and Al Jomaih Energy and Water Co. took 200 MW, for INR 2/kWh each.

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Source: pv magazine