Even as the industry is trying to make sense of the Rs. 2.62/kWh(more here) solar tariff, it has dropped further to Rs. 2.44/kWh in the just concluded auction for 500 MW of solar projects in Bhadla Solar Park. According to reports, ACME Solar and SBG Cleantech have won the projects. The details are as follows.
SBG was also one of the 3 winners in the earlier auction conducted 2 days back in the same Bhadla Solar Park. In that auction, SBG won 100 MW @ Rs.2.63/kWh. In both the auctions, SBG missed getting its full bid quantity by just 1 paisa each.
Avaada, one of the other winner in the earlier auction was at fifth position, having quoted Rs. 2.60/kWh(2 paise less than its previous winning bid).
Hero Group missed the allocation by 1 paisa(Rs. 2.46) while Renew missed by 2 paisa(Rs.2.47)
If Rs. 2.62/kWh was difficult to explain, another 18 paise drop(~7%) is even more difficult to explain. We leave it at that. What is the next low?
(This blog is supported by Aspiration Cleantech Ventures)