Indian Federation Of Green Energy

Bhadla Phase-III Solar Park : Key trends indicating how solar

[Source – SOLAR QUARTER, Date - 19th July, 2017] See Link

Bhadla Phase-III Solar Park : Key trends indicating how solar become cheaper than coal fired power plant with LCOE of Rs 2.44/kWh

L1 Bid of Rs.2.44/kWh LCOE of Bhadla Phase-III Solar Park Project on 12th May’2017 by ACME Solar.

Solar Power LCOE of Rs 2.44/KWh-

If we look at the last six years, the tariff has been on the downtrend with an unprecedented drop of almost 80% across the world thanks to the aggressive bidding by global players including SunEdison. The few of the recent trends of L1 bid and quoted solar tariff in India:-

On 12 May 2017, Solar Power tariff dropped to 2.44 per unit during an auction of 500 MW of Bhadla Solar Park phase III

On 10 May, Solar Power tariff dropped to Rs 2.62 per unit during an auction of Bhadla Solar Park phase IV

In April 2017, solar power tariffs had fallen to an all-time low of Rs 3.15 per unit quoted by Solairedirect during the auction of a 250 MW project at Kadapa in Andhra Pradesh.

In February 2017, lower capital expenditure and cheaper credit had pulled down solar tariff to a new low of Rs 2.97 per unit (a basic bid of Rs 2.97 a unit) for the first year in an auction conducted for 750 MW capacity in Rewa Solar Park in Madhya Pradesh. However, The lowest tariff quoted by Mahindra Renewables Pvt. Ltd, for a grid connected solar power project before that stood at Rs 3.30 per unit i.e. the levelised tariff (LCOE) for 750MW Rewa solar park in Madhya Pradesh has worked out to be at Rs 3.30 per unit.

In January 2016, solar power tariff had dropped to a new low, with Finland-based energy firm Fortum Finnsurya Energy quoting Rs 4.34 a unit to bag the mandate to set up a 70-MW solar plant under NTPC's Bhadla Solar Park tender.

In November 2015, the tariff had touched Rs 4.63 per unit following aggressive bidding by US-based SunEdison, the world's biggest developer of renewable energy power plants.