Solar power in India | Spanish company wins bid with lowest tariff at Rs 2.36 per unit
Before, this the lowest bid was Rs 2.44 per unit by ACME Solar in July 2018 for a 600 MW solar power project in Rajasthan.
July 01, 2020 / 12:24 PM IST
Solarpack Corporation has quoted the lowest tariff for solar power in India, bidding Rs 2.36 per unit for 300 MW of a project.
The Spanish company won the bid and marked its entry into India, the Business Standard reported.
Avikiran Surya, backed by Italian utility Enel, and New York-based Eden Renewables, won 300 MW each for Rs 2.37 per unit.
The Solar Energy Corporation of India (SECI), the nodal agency for renewable energy projects, received bids for 5,280 MW, the Business Standard reported.
Ayana Renewable Power, which is backed by UK's CDC and ReNew Power were awarded 300 MW and 400 MW, respectively, after quoting Rs 2.38 per unit, the report said.
Before this, the lowest bid was Rs 2.44 per unit by ACME Solar in July 2018 for a 600 MW solar power project to be established in Rajasthan.
This is the first time the majority capacity of the bids for a solar power project were won by foreign companies, the report said.
Raj Kumar Singh, Minister of State for Power and New & Renewable Energy, tweeted about the auction.