New Delhi: Solar power tariff bids were at Rs2.97 per unit in the ongoing auction of a 500 megawatt (MW) solar park being developed by Infrastructure Leasing and Financial Services Ltd at Bhadla in Rajasthan. The sub Rs3 per unit tariffs are lower than the average rate of power generated by the coal-fuelled projects of India’s largest power generation utility, NTPC Ltd, at Rs3.20 per unit. “In a surprise move, the Uttar Pradesh Chief Minister, Yogi Adityanath, has cancelled the 15 year power procurement bids from eight independent power producers, to the tune of 3800MW, conducted by the previous government in 2016. “While the PPA (power purchase agreement) with power producers was signed at a 15-year committed price of Rs4.15/unit, in the spot market price is at Rs3/unit,” the statement added. But ultimately solar power is a game-changer and is a better technology.

Source: Mint May 11, 2017 19:30 UTC