Green energy push: SECI Solar auctions witness intense aggression by developers, tariff of Rs 2.54 per unit discovered

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Updated: June 13, 2019 6:43:35 AM

Though the latest tariff is higher than the all-time low solar rate of Rs 2.44 per unit, it is still lower than the weighted average solar tariff of Rs 2.73/unit discovered in calendar year 2018 (vs `3.01/unit in 2017 and `5.01/unit in 2016).

Though the latest tariff is higher than the all-time low solar rate of Rs 2.44 per unitTariff of Rs 2.54/unit discovered in SECI solar auctions

The latest reverse auction for 1,200 MW of solar capacity, conducted by the Solar Energy Corporation of India (SECI), has discovered tariff of Rs 2.54 per unit, reflecting the continued competitive aggression of the developers in spite of various sections of the industry raising questions about the viability of low rates.

Though the latest tariff is higher than the all-time low solar rate of Rs 2.44 per unit, it is still lower than the weighted average solar tariff of `2.73/unit discovered in calendar year 2018 (vs `3.01/unit in 2017 and `5.01/unit in 2016).

According to sources, ReNew Power, Azure Power, Ayana Renewable and Mahindra Susten have been awarded 300 MW, 300 MW, 300 MW and 250 MW, respectively, all at `2.54 per unit while Avaada Energy was awarded 50 MW at `2.55 per unit.

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