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?