Bhadla Solar Park is one of the largest solar parks in India which is spread over a total area of 10,000 acres (40 km2) in, India. The park is proposed to have a capacity of 2,255 MW. The park has witnessed one of the lowest bids for tarrif of Rs 2.44 per kWh, which is lowest for solar in India so far.
State-run Solar Energy Corporation of India (Solar Energy Corporation of India Ltd. is a company of the Ministry of New and Renewable Energy, Government of India, established to facilitate the implementation of Jawaharlal Nehru National Solar Mission.... More), which is running the bid process for 750MW of solar power capacity at two parks, has received price bids for the 250MW Adani Renewable Energy Park Rajasthan Ltd, with the reserve price set at Rs3.01 a unit.
This project has been awarded based on reverse auction where Solar Energy Corporation of India had set a reserve price of Rs. 3.01 per unit for 500 mw capacity being bid.
The tariff offer has been steadily coming down over the past six-seven years but it has been quite steep in the last 15-18 months.
While in November 2015 Sun Edison had bid at Rs. 4.63 per unit for 500 mw at Kurnool solar park, this was down to Rs. 4.34 per unit at National Thermal Power Corporation Limited, is an Indian Public Sector Undertaking, engaged in the business of generation of electricity and allied activities. It is a company incorporated under the Companies Act 1956 and a "Government Company" within the meaning of the act. The headquarters of the company is situated at New Delhi. NTPC's core business is generation and sale of... More Bhadla solar park last year.
This low was again breached at the Rewa solar park tender with an offer of Rs. 2.97 per unit in Madhya Pradesh with the levelised tariff working at about Rs. 3.30 per unit.
According to sector watchers, the drop in price of bids has been mainly due to latent demand to bag projects with assured returns and no hassle of land acquisition. This has been well aided by steep drop in prices of modules due to huge capacity build up in China in particular.
The Power Ministry proposal to bundle some of the renewable energy plants with fossil fuel plants could also be a major game changer for the sector.
IDFC bank lends Rs 675 cr for rajasthan solar project – ET EnergyWorld
India solar power tariffs hit new low of Rs 4 per unit – Times of India
NTPC commissions 20 MW capacity at Bhadla solar project – The Economic Times