Tamil Nadu to procure 1500 MW of solar power at Rs 3.47 per unit

By 2021, the state has set a target to generate 5000 MW, including the 1500 MW for which MoUs were signed.

Tamil Nadu Government has decided to procure 1500 MW of solar power from 16 companies that have invested around Rs 9,000 crore in the State. The price fixed is Rs 3.47 per unit, which is far below the price prevailed in February this year.

According to industry sources, the tariff of Rs 3.47 is well above the lowest solar bid in the country so far of Rs 2.44  per unit, made at an auction at the Bhadla Solar Park in Rajasthan in May. They also noted compared to February, it is a substantial drop from the winning bid of Rs. 4.40