Solar power tariff at new low, drops to Rs 4.34 a unit

The solar power tariff fell to an all-time low, with Finland-based energy firm Fortum Finnsurya Energy quoting Rs 4.34 a unit to bag the mandate to set up a 70-mw solar plant under NTPC's Bhadla Solar Park tender, said an official statement. “Solar tariffs have fallen to an unprecedented low of Rs. 4.34 / kWh through reverse auction for one of six projects of 70 MW each to be put up in Rajasthan under the National Solar Mission,” Ministry of New and Renewable Energy said in a statement. NTPC on Monday conducted the reverse bidding for 420 MW solar power projects to be set up in the Bhadla Solar Park-II, near Jodhpur in Rajasthan. The thermal power generator will procure and bundle solar power from these parks with coal-based power generated from its older plants to keep the resultant tariff low. Fortum Finnsurya Energy bagged 70 MW at the lowest tariff of Rs 4.34/unit. Rising Sun Energy and Solairedirect Energy India managed to grab 140 MW each at Rs 4.35/unit. Yarrow Infrastruture, a subsidiary of RattanIndia Solar, won the remaining 70 MW on offer at Rs 4.36/unit.