Solar Tariffs Continue To Trend Downwards: ICICI Securities
Solar panels stand on the roof at a plant in Uttar Pradesh, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

Solar Tariffs Continue To Trend Downwards: ICICI Securities

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ICICI Securities Report

In the latest bids conducted by Gujarat Urja Vikas Nigam Ltd. (Gujarat discom) for procuring 500 megawatt state transmission utility connected solar power, tariffs discovered a new record low at Rs 1.99/kilowatt hour.

This beats the previous low clocked in the bids conducted in December 2020 by Solar Energy Corportion of India for 1,070 MW for Rajasthan, which discovered tariff of Rs 2/kWh.

The winners of the bid at Rs 1.99/kWh are -

  1. NTPC Ltd. - 200MW
  2. Torrent Power Ltd. - 100MW
  3. Al Jomiah Energy and Water Company (Saudi Arabia) – 80MW
  4. Aditya Birla Renewables – 120MW

Successful bidder is expected to construct the project, including the transmission network up to the delivery point (which is the state grid).

Click on the attachment to read the full report:

ICICI Securities Power Sector Update .pdf


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