Indian solar tariffs have matched their lowest ever in the most recent 2GW and 3GW auctions for Interstate Transmission System (ISTS)-connected projects. Payal Saxena and Ali Imran Naqvi of advisory and engineering firm Gensol Group, decipher how such low prices are possible.
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After Indian solar tariffs breached a jaw dropping US$0.04/kWh earlier this week in a Rajasthan auction, prices have dropped to yet another record in the same location.
India solar prices have continued their downward spiral, this time with record low bids of INR2.62/kWh (US$~0.04) from Phelan Energy Group and Avaada Power in the state of Rajasthan.
Finnish firm Fortum has commissioned a 70MW solar PV plant in the Indian state of Rajasthan, which it won last year at what was then a record low tariff of INR4.34/kWh (US$0.067).
Vikram Solar, India’s leading PV EPC company and module manufacturer, announced last week that it has commissioned a 130MW PV power plant for the National Thermal Power Corporation (NTPC) in Bhadla, Rajasthan.
The Asian Development Bank (ADB) has approved a US$175 million loan to India’s major network operator and utility Power Grid Corporation of India (Powergrid) relating to solar park transmission.
