MPUVN rooftop solar gets lowest ever tariff of Rs 1.38 per unit

Madhya Pradesh Urja Vikas Nigam (MPUVN) Friday announced that it has achieved historic low tariff of Rs 1.38 per unit for central government buildings in its RESCO II rooftop solar tender, an official statement said.

State government medical colleges, also a beneficiary in the tender, have got a rate of Rs 1.63 per unit for the first year. The rates would increase by 3 per cent annually and would roughly double at the end of 25 years, MPUVN said.

"Madhya Pradesh has discovered the lowest rate of Rs 1.38 per unit for first year in central government buildings, which is one fourth of what the consumers are presently paying," it said in a statement.

Renewable Energy Service Company (RESCO) sets up solar power projects and then monetises the energy produced.

In comparison, a system integrator installs the project and is involved in the execution and implementation of the project for another RESCO.

The RESCO - II tender issued by MPUVN attracted 9 international and domestic bidders, who oversubscribed its 8.6 MWp rooftop tender capacity by more than 630 per cent, it added.

The results were announced at an event on the sidelines of RE-Invest 2018, a global platform to explore strategies for development and deployment of renewables.