New record low solar tariff of Rs 2.97 per kWh at Rewa Solar Park auction, Madhya Pradesh

Mahindra Renewables, Acme Solar Holdings and Solenergi Power have bid record low tariffs of Rs 2.979 per kWh, Rs 2.97 per kWh and Rs 2.974 per kWh respectively to win contracts to build a 250 MW plant each, at the 750 MW solar power plant in Rewa, Madhya Pradesh. Under the awarded contracts, there will be a tariff escalation of Re 0.05 per annum for 15 years. Further, a levellised tariff of around Rs 3.30 per unit will be levied. The last lowest tariff discovered for a solar power project in India was Rs 4.34 per unit. A total of 20 national and international players had submitted their bids for developing solar plants in Rewa district of Madhya Pradesh. Rewa Ultra Mega Solar Limited, a JV between SECI and the Madhya Pradesh Urja Vikas Nigam, invited bids for developing the project. The 750 MW park will be developed in three segments of 250 MW each and will be spread over 1,500 hectares of land in Gurh. Of the 20 developers, four – SBG Clean Tech, Enel Green Power, Renew Power and Rosepetal – had submitted bids for developing the entire project, while two others submitted proposals for developing 500 MW. The remaining 14 submitted proposals for developing one unit of 250 MW.

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