Bhadla Solar Power Project Tariff Hits New Low of Rs 2.62 a Unit

Phelan Energy Group and Avaada Power Private Limited have bagged 100 MW and 50 MW solar power project respectively at Rs 2.62 per unit, and SBG Cleantech managed to obtain 100 MW at Rs 2.63 a unit for Bhadla Phase IV 250 MW solar project.

Following the trend of falling solar tariffs in India, the 250 MW solar power project of Bhadla Phase IV has received the lowest ever bids at Rs 2.62 per unit. Avaada Power Private Limited and Phelan Energy Group have bagged 100 MW and 50 MW solar power projects respectively at Rs 2.62 per unit, while SBG Cleantech – a joint venture between SoftBank, Bharti Enterprises and Foxconn has bagged 100 MW at Rs 2.63 a unit.

Piyush Goyal, Power, Coal, Renewable Energy and Mines Minister told ETEnergy that another milestone towards PM Narendra Modi’s vision of clean affordable power for all: Bhadla Solar Park achieves tariff of Rs. 2.62/unit.

Other major players who participated in the bid were Mahindra Renewables, Azure Power, ACME Solar and ReNew Power.

The previous lowest bid price was achieved at the reverse auction carried out for 250 MW solar power project at Kadapa in Andhra Pradesh were a levelised tariff of Rs 3.15.

Source: ETEnergy