Solar tariffs are set to reach a record low with the Solar Corporation of India (SECI)’s latest tender, which sets the reserve price at Rs 4 per kwH.
SECI has invited online bids for setting up 750 MW at the Bhadla Solar Park in Rajasthan’s Jodhpur district – 500 MW in Bhadla Phase III and 250 MW in Bhadla Phase IV as part of the second phase (Batch IV) of the Jawaharlal Nehru National Solar Mission. Bhadla has the highest solar radiation in the country and thereby can generate the cheapest solar power. So far the lowest bid had been Rs 4.34 per kwH, offered by Finnish major Fortum Finnsurya to set up a 70 MW plant at Bhadla in an NTPC conducted auction in January this year. In a number of subsequent auctions, SECI had set the reserve price at Rs 4.35 per kwH. The latest reserve price thus indicates a steep reduction.