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 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:

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Arun Jaitley-Budget-03-20170201-RP-kKwD--621x414@LiveMint

Impact of Budget 2017 on the Solar Industry

Big Day! Our finance minister Arun Jaitly announced the much awaited Budget 2017 today. Here are the key takeaways from the Budget 2017 that affect the solar industry directly or indirectly.

1. 7000 Railway Stations to go Solar in the Medium Term

This is the first time that the railway budget has been merged with the Union Budget. Mr. Jaitly announced that a proof of concept with solar power has already been done with 200 railway stations and now 7000 railway stations will be converted to solar in the medium term.

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REWA Mega Solar Park – A Project Development Success

Bids closed this Monday for participation in the 750MW REWA Mega Solar Park and we hear the response was overwhelming with more than 20 solar developers vying for over ten times the bid capacity. Solar in Madhya Pradesh wasn’t always considered a good investment, so what made the REWA project so attractive? Here are the key features that make the REWA solar park a sweet deal for offtakers and investors alike.

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Solar Tariff SECI 500MW Bid

The Truth Behind 3 Rs per unit Solar Tariff

Dramatically low solar tariffs have been creating the stir in news since the Solar Energy Corporation of India (SECI) released it’s bid results in late November. Agencies have been reporting that Solar Power tariffs touched a record low of Rs. 3/unit. While this sounds like great news, it is only the partial truth. Here is the complete understanding of solar power tariffs discovered as part of SECI’s 500 MW tender.

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