The bids have not only proven otherwise, they signal momentum toward the government’s new draft National Energy Plan, which calls for a fivefold expansion to 258 Gigawatt of renewable capacity by 2027
New Delhi: The historic low levels of solar tariff at
Rewa ultra mega solar plant pave way for epic solar development in India, Institute of Energy Economics and Financial Analysis said.
“Prime Minister Narendra Modi—just two years in power—is intent on forging an electricity-sector transformation that may well serve as a core model for much of the rest of the world, emerging markets especially,”
IEEFA said.
On Friday, solar tariffs in the country crashed to an all time low of Rs 2.79 per unit. The three winning bids for the 750 Megawatt auction, by
Mahindra Renewables,
Acme Solar, and
Solenergi Power, came in at below Rs 2.970-Rs 2.979 per unit. Bidding opened at Rs 3.59-3.64 a unit.
IEEFA said the bids have not only proven otherwise, they signal momentum toward the government’s new draft National Energy Plan, which calls for a fivefold expansion to 258 Gigawatt of renewable capacity by 2027.
“That program would diminish thermal power’s share of electricity capacity to 43 percent from 66 percent today,” IEEFA said.
Terming the fall in tariff as a ‘momentous’ occasion, IEEFA pointed out to the time of a record low bid a year ago by
Fortum, the Finnish electricity company that won a 75 MW project in India Rs 4.34 per unit bid. That beat the previous record low by 25 percent.
“Skeptics—and there were many—considered that event an aberration. ‘It can’t be replicated,’ went the conventional wisdom. ‘It’s not commercial, it’s not viable, it won’t be repeated’,” IEEFA said.
Rewa ulta mega solar, a 50:50 joint venture of Madhya Pradesh Urja Vikas Ltd and
Solar Energy Corp of India will sell the electricity produced to Madhya Pradesh utilities and Delhi Metro Rail on an open access basis.
http://energy.economictimes.indiati...s-to-led-to-hit-ground-post-march-11/57092827
