Rooftop solar energy is fast accounting for a more significant percentage of our country’s energy mix. As more and more factories, institutions and posh residences adopt solar under net-metering, they are generating their own power but still using the utility maintained transmission. The more power generated by solar plants, the less units sold by DISCOMs and utilities. This transition is making states and DISCOMs anxious about loss of their highest paying consumers. (more…)
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.
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.
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.