Solar power tariff touches record low of Rs 2 per unit in SECI auction

SECI is a fully-owned subsidiary of the Ministry of New and Renewable Energy entrusted with the tendering process of renewable projects in the country

Falling solar equipment prices and increased participation of foreign and private equity-backed firms have dragged down the solar tariff in the country to a record low of Rs 2 per unit. This fall comes at a time when Indian solar power developers are facing import restrictions on Chinese solar equipment.

In an auction held by Solar Energy Corporation of India (SECI) for 1,070-Mw solar power projects on Monday, Saudi Arabia-based Al Jomaih Energy and Water, and Green Infra Wind Energy, a unit of Singapore-based Sembcorp Industries, quoted the lowest rate for 200-Mw and 400-Mw capacity projects, respectively. 

IDFC Securities on Tuesday said