In what has emerged as an all-time low tariff for solar energy, US-based Sun Edison has won a bid to sell power at the rate of Rs.4.63 per kilowatt-hour (kW.h).
The renewable energy made the bid for its 500 megawatt plant in Andhra Pradesh under the Jawaharlal Nehru National Solar Mission.
"Delighted that an all time low solar tariff of Rs 4.63 (a kW.hr) has been achieved during reverse e-auction conducted by National Thermal Power Corporation (NTPC)," Power Minister Piyush Goyal tweeted on Wednesday.
"Delighted that solar tariff in India has broken Rs 5/kW.h level. NTPC has received bids of Rs 4.8/ kW.h through ongoing reverse e-bidding," he added.
Goyal made the announcement on the sidelines of the World Economic Forum in New Delhi on Tuesday, following the bidding earlier in the day.
The previous lowest solar tariff was about Rs.5.05 per unit offered by Canadian company SkyPower's for a 150 MW project in Madhya Pradesh.
Of the 28 companies that qualified for the second round of bidding, nine including Italy's Enel Green Power SpA, Reliance Power Ltd, ReNew Power Ventures Pvt Ltd, Solar Arise, Acme Solar and Orange Renewable Power offered bids under Rs.5 per unit.
Other bidders included Welspun Renewables, Trina Solar and First Solar.
