Of the 100GW of contracts that the ministry of new and renewable energy will award, 77GW will be solar power projects. The auction jamboree also includes a plan to invite bids for setting up 20GW of solar power capacity—the world’s largest solar tender—at one go, to spur domestic manufacturing of solar power equipment. Of the 100GW of contracts that the ministry of new and renewable energy will award, 77GW will be solar power projects and the remaining 23GW wind power contracts. Given the aggressive auction plans, some believe that India’s wind and solar energy tariffs will further dip. Wind power bids followed suit and also fell to a record low of Rs2.64 per unit in an auction conducted by state-run Solar Energy Corp. of India in October.

Source: Mint November 28, 2017 04:41 UTC