Jasmeet Khurana, associate director, consulting, Bridge to India, shares his views on what the record breaking tariffs for 750MW solar in Madhya Pradesh mean for India's entire power sector.
Indian solar tariffs have reached a paradigm shifting new low after the final reverse auction round for 750MW capacity in Madhya Pradesh followed through into a nail biting second day.
The first round of bidding for the 750MW Rewa solar park in the Indian state of Madhya Pradesh has guaranteed that the highest tariff will be no more than 3.64 rupees per unit (US$0.054).
Indian infrastructure development firm SPML Infra has secured a INR220 million (US$3.24 million) order from Solar Energy Corporation of India (SECI) for EPC of rooftop solar installations in four Indian states, according to a Bombay Stock Exchange filing.
Unique tender structuring and a 28% module price drop will bring tariffs in the upcoming 750MW solar auction in Madhya Pradesh to extreme lows, according to the latest update from Bridge to India.
The government of the Indian state of Madhya Pradesh has introduced its 2016 policy for decentralized renewable energy systems with a particular focus on rooftop solar PV.
The Indian state of Madhya Pradesh plans to extend its guarantee to developers bidding for capacity in the 750MW Rewa Ultra Mega Solar Park, so that payments will be met by the government in the case of any default from the off-takers.
Indian Oil Corporation and Oil India are planning to set up a 1GW solar energy plant in the state of Madhya Pradesh in order to power their oil refineries, according to a senior figure of the state’s renewable energy agency.
Indian state-owned mining, metal and power firm National Aluminium Company Limited (NALCO) is tendering for the setting up of a 20MW solar PV project in the state of Madhya Pradesh.
Wind power developers in India have been facing delayed payments from distribution companies of up to eight months at a time in various states, but solar developers have experienced only negligible delays in a couple of states, according to industry analysts.
