Solar power tariff touches new low of Rs 5.05

News:

• Mauritius-based Sky Power Southeast Asia Holdings has offered a tariff of Rs 5.051 a unit to the state government-owned MP Power Management Company.
• The highest rate of procurement was Rs 5.641 for 50 Mw from Hero Solar. Sky Power set a record by beating majors like Reliance, Adani, ACME and Welspun.
• Solar tariffs have since declined to around Rs 6.50-8.50 a unit, though they are still higher than coal-based power, which averages around Rs 4 a unit.
• The fall in tariffs is primarily due to aggressive bidding, raising hopes of solar energy reaching grid parity.

Source: BS