NTPC auction yields solar tariff of Rs 2.73/unit, good response

Auctions conducted here for solar power projects of 750 MW at Ananthapuram Solar Park in Andhra Pradesh have resulted in tariffs as low as Rs 2.72-73 per unit, state run generator NTPC said on Thursday.

Auctions in May last year yielded a record low solar tariff of Rs 2.44 per unit.

NTPC sources said the auctions were not for the company but had been conducted by it as part of the Solar Mission programme being implemented by the Union Ministry of New and Renewable Energy.

The three winners, who won 250 MW each, are UK-based Actis' renewable energy arm Sprng Energy, which quoted a tariff of Rs 2.72 per unit, the British government supported Ayana Renewable Power and SB Energy Solar, a joint venture of Japan's SoftBank, Taiwan's Foxconn and Bharti Airtel. Both Ayana and SB Energy quoted Rs 2.73 per unit.

A total of 11 bidders put up bids cumulatively worth 4,000 MW in the NTPC auction, the official said.

According to the Ministry, "the objective of the Solar Mission is to create conditions, through rapid scale-up of capacity and technological innovation, to drive down costs towards grid parity".

The government has targeted the deployment of 100 gigawatt (GW) of solar power by 2022 out of a total renewable energy target of 175 GW.

--IANS

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