The tariff for solar power generation in India is expected to breach existing lows and settle at a figure less than ₹3.64/kWh. According to information shared by the government, qualified bids for the 750MW Rewa solar park in Madhya Pradesh have all settled below ₹4/kWh.
The lowest bid is currently of Sembcorp for 250MW at ₹3.59/kWh. Indian solar power project developers namely Aditya, ACB, Hero, Acme, ReNew, Azure, Adani, Orange, NHDC, AMPL Cleantech, Mahindra Renewables and Rattan India have qualified for the next round. Foreign players namely Enel, Softbank, GDF Suez, Sembcorp, Canadian Solar and Solenergi are also participating in bids. The next round of bids will continue on Thursday. Currently, the lowest bid is quoted by Fortum FinnSurya at ₹4.34/kWh for a 70 MW of the 420 MW project in Rajasthan.