Lowest tariff of Solar power in India reached the lowest of Rs 4 per unit

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“Solar Energy Corporation of India (SECI) has finalised a tender issue to solar power generation project of  750 MW in Bhadla solar park, Rajasthan at record low tariff for power sale of Rs 4 per unit with VGF (viability gap funding) support,” a source said.

The newspaper report  further said, “With this SECI has completed auction of more than 5 GW (total being 5,410 MW) under VGF scheme in a span of less than 15 months. Out of this power purchase agreements (PPAs) signed for a couple of,520 MW and PSA (power supply agreements) signed for a couple of,725 MW.”

Earlier in January, the solar power tariff in India had touched to some record low with Finland-based energy firm Fortum Finnsurya Energy quoting Rs 4.34 a unit to bag the mandate to setup a 70 MW solar plant under NTPC’s Bhadla solar park tender.

Previously, in November this past year the solar power tariff  had dipped to some low of Rs 4.63 per unit following an aggressive bidding by the US-based SunEdison, the world’s biggest developer of renewable energy power plants

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