Viability cloud over solar power as price hits new low

Firms offer as little as Rs 2.62/unit, lower than average price of coal-based power

 

The price of solar power touched a new low on Wednesday in the bidding held for the Bhadla Solar Park in Rajasthan’s Jodhpur district.

Companies looking to put up a 250-megawatt (Mw) unit there put a bid of Rs 2.62 a unit, lower than the average price of coal-based power in the country. This could mean thin margins for developers; Rs 2.62 could be the starting point for a further low when bidding for another 500 Mw at the park comes up on Thursday.

Phelan Energy Group from South Africa and Avaada Power Group quoted Rs 2.62 a