Economy

At ₹2, Saudi firm quotes lowest tariff for solar power in country

Our Bureau New Delhi | Updated on November 23, 2020

A new record low has been set for solar power tariff in the country. Aljomaih Energy & Water Company, a private company based out of Saudi Arabia, has bid the lowest of ₹2 a unit for setting up a solar power generation project.

This new lowest tariff has also been quoted by Green Infra Wind Energy Limited (GIWEL). This company is promoted and owned by Sembcorp Green Infra Limited (SGIL), which is a wholly-owned subsidiary of Sembcorp Energy India Limited (SEIL). It a part of Singapore-headquartered Sembcorp Industries. Sembcorp also holds the record for quoting the lowest wind energy tariff in the country at ₹2.44 a unit.

Aljomaih Energy & Water Company has bid for setting up a 200-MW solar power project at this tariff while Sembcorp has bid for setting up a 400-MW generation capacity.

Next lowest bid

The next lowest bid in this tender has come from NTPC Limited that has quoted ₹ 2.01 a unit for setting up a 600 MW generation capacity.

In all, the Solar Energy Corporation of India (SECI) wanted to bid out 1,070 MW of solar power generation capacity from domestic and foreign project developers. These Grid-Connected Solar PV Power projects are to be set up in Rajasthan. The Rajasthan Urja Vikas Nigam Limited (RUVNL) shall be the Buying Entity for power generated from these projects.

The new bids are significantly lesser than the previously record low tariffs discovered in SECI bid rounds earlier this year. The previous record low solar bid stood at ₹2.36 a unit. It was quoted by Spain-based Solarpack to set up a 300-MW generation capacity during an SECI tender in June 2020.

Published on November 23, 2020

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