India’s Record Plunge in Solar Prices Boosts Modi’s Green Goal
- Three firms each win 250-megawatt solar power projects
- World Bank contest won by Acme, Mahindra and Solenergi
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The price of solar power in India fell to a record in a competitive tender in the central Madhya Pradesh state, underscoring an appetite among developers to work in the nation as growth slows in leading markets of China and Japan.
Rewa Ultra Mega Solar Power, a joint venture involving Solar Energy Corp. of India and the state government, received a levelized tariff bid of 3.30 rupees a unit (5 cents) a kilowatt-hour for 750 megawatts of capacity, an official who helped organize the auction said late Friday. That’s lower than the previous record of 4.34 rupees a unit achieved a year ago.