Solar PV Projects Auction once again hits headlines this morning. This bid is for Solar PV Grid Connected Power Projects in Rajasthan Solar PArk carried by NTPC.. Solar Tariffs hits all time low with Fortum emerging lowest bidder quoting Rs.4.34 /kWh. The L2 Bidder is Rising Sun Energy quoting Rs.4.35. Rising Sun is a company incorporated in Mayur Vihar – NEw Delhi with 4 Directors namely Arunav sharma, Kamla sharma, Ser Ko Tan ( CEO – Charisma Energy) and Jinsi Piri Lee (Sunseap – Singapore) . The L3 Bidder is well known SolaireDirect quoting Rs.4.35 / lWh. L4 is Indiabulls company – Yarros Infrastructure. Our hearty congratulations to the successful bidders – Fortum, Rising Sun, Solarire Direct & Indiabulls
The unsuccessful bidders also surprised with very competitive bids places such as Acme quoting Rs.4.4, Hero quoting Rs.4.44, Energon – Rs.4.48, Reliance – Rs4.48, NEEPCO – Rs.4.51, Orange – Rs.4.63, SunEdison – Rs.4.64, Azure – Rs.4.70, Suraksha Realty – Rs.4.89. Surprising to see so many developers willing to take projects below Rs.5 / kWh
Recalling the times when Rs.4.63 was a magical number and just before that SkyPower made headlines in the MP Bid quoting Rs.5. These bids looked very aggressive , but with this latest auction these projects looks better.
As a solar industry professional , I am excited to learn the financing & technological mechanism which makes these numbers workable. Definitely it seems that foreign low cost funding and upcoming latest technologies such as low cost & technological advanced solar modules , trackers etc…would be the only way to achieve the viability at these tariffs.