Solar Tariffs Fall To Record Low Of Rs 1.99 Per Unit In Auction Organised By Gujarat Discom

In a big fillip for the surging adoption of solar energy in the nation, tariffs fell to a new record low of Rs 1.99 per unit in an auction conducted by Gujarat Urja Vikas Nigam Limited (GUVNL) yesterday (19 December), reports Economic Times.

The bid was received in an auction called for 500 megawatts (MW) capacity. However, it should be noted that bids were received only 300 MW capacity. Of this, NTPC, Torrent Power, Aljomaih Energy and Water Company, and Aditya Birla Renewables won 200 MW, 100 MW, 80 MW and 120 MW capacity respectively.

It should be noted that the Rs 1.99 tariff bid comes out, beating the previous bid of all times which stood at Rs 2.00 per unit. The said bid was achieved in another auction conducted by Solar Energy Corporation of India (SECI) in November, earlier this year.

The development comes as a big boost for the nation which is looking to have a capacity of 100 GW of solar power generation capacity by 2022 when India would have completed 75 years of Independence from the usurious British Raj.