Two Point Four Four- Bhadla Solar Park Results

We look on in disbelief as the results of aggressive bidding for the Bhadla Solar Park were announced today. ACME and SoftBank Energy won the tender to supply electricity at Rs. 2.44/ kWh and Rs. 2.45/ kWh respectively. The results came after open bidding that spanned two days and thirteen participants that included Hero Solar and Renew Solar Power.

Solar tariffs are in a state of free fall, these results come on the back of the widely celebrated results of Rs. 3.3/ kWh for REWA Solar Park in Madhya Pradesh, barely 4 months ago.

At Rs. 2.44 per unit, electricity from the Bhadla Solar Park will be 25% cheaper than that from coal power plants.

Only one question remains to be answered: Is this sustainable or a bubble waiting to burst?

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Piyush Goyal

Breaking: ₹8,100 cr Budget Allocated to double solar parks capacity to 40GW

In an unprecedented move this Wednesday, the Cabinet Committee on Economic Affairs cleared an 8100 cr. proposal to double the solar park capacity to be achieved by 2019-20 to 40 GW.

This move was reportedly motivated by the enthusiastic response received for Rewa’s Ultra Mega Solar Power Park.

Piyush Goyal, Minister of State for Power, said: (more…)

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REWA Solar Story Snippet

REWA Solar Park in Stats

This past month we reported how the REWA Ultra Mega Solar Park has been developed to attract the best bids and also how the reverse auction results for this 750 MW plant have broken the Rs. 3 barrier. But this story has many more facets that need to be spoken about such as the Rs. 300 crore+ reduction in DMRC’s electricity bill. We have pulled together this info-graphic that illustrates just how ground breaking this story is in the history of solar power.

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REWA Solar Park Bid Results

MP Strikes Gold with the Sun- REWA Solar Park Bidding Results

Rs. 2.97/ unit

Something amazing just happened in the Indian Solar Industry. A couple weeks ago Sunkalp Energy had reported how the REWA Solar Park was developed to attract competitive bids. The bid results that were declared on Friday morning did not disappoint. For the first time, the bid solar tariff has breached the magic Rs. 3/unit number, and this without any subsidies or incentives. While aggressive tariff is ofcourse as a result of stellar off-takers and large capacity which improed bankablity, this is truly a success story for the resilient Indian solar industry. The bid results are testament to the fact that the solar industry can now survive without incentives and subsidies.

Summary of REWA Solar Park Bid Results:

The winning bidders along with their quotes are as below:

  • Mahindra Renewables Pvt. Ltd: Rs 2.979 per kWh
  • Acme Solar Holdings Pvt. Ltd: Rs 2.97 per kWh
  • Solenergi Power Pvt. Ltd (Sweden): Rs 2.974 per kWh

Each of the bidders have won contracts to build 250MW plants each.

Records Broken by the REWA Solar Park:

(more…)

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