Auction of Solar Corporation of India (SECI)

In the 500 MW Bhadla Phase-III Solar Park auction, Acme Solar lodged the winning bid of INR 2.44 (USD 0.037)/kWh to develop 200 MW, while SBG Cleantech quoted INR 2.45 (USD 0.038)/kWh to bag an order for 300 MW.The new lowest tariff shows a 7% decrease on the previous cheapest price offered in the 250 MW Bhadla Phase-IV Solar Park INR 2.62 (USD 0.0405)/kWh just a week ago.Overall, 10 developers quoted tariffs below INR 3 (USD 0.046)/kWh, out of which six quoted a tariff lower than the previous low tariff of INR 2.62 (USD 0.0405)/kWh.The project will have a 12-month completion timeframe from the date at which the PPA is signed, and developers will enter 25-year PPAs with Solar Energy Corporation of India (SECI), the off-taker.