Solar Tariffs Remain at Record Low in India's Largest Auction
(Bloomberg) -- Solar tariffs in India remained at record lows in the country’s largest federal auction of 3 gigawatts of projects, according to state-run Solar Energy Corp. of India.
Acme Solar Holdings Ltd. won 600 megawatts of projects at the lowest tariff of 2.44 rupees a kilowatt-hour, the record low hit last May and then again in an auction earlier this month, SECI General Manager Sanjay Sharma said Friday in a phone interview.
The country, home to almost half of the world’s 30 most-polluted cities according to the World Bank, has a target of installing 175 gigawatts of renewable energy by March 2022 in a bid to reduce fossil-fuel pollution.
Other winners included:
- New York Stock Exchange-listed Azure Power Global Ltd., which won 300 megawatts at 2.64 rupees a kilowatt-hour
- Rutherford Solarfarms Pvt. won 200 megawatts at 2.70 rupees a unit
- Adani Group-backed Mahoba Solar Pvt. won 300 megawatts, ReNew Power Ventures Pvt. 500 megawatts and SB Energy, a joint venture backed by SoftBank Group, won 1.1 gigawatts
- All three quoted a tariff of 2.71 rupees a kilowatt-hour
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