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NEW DELHI : Solar power tariff has dropped to an all-time low of 1.99 per unit in an auction of projects of 500 MW capacity by Gujarat Urja Vikas Nigam Ltd (GUVNL) last week.

"Now the solar power tariff has dropped to a new low of 1.99 per unit in an auction for 500MW projects by GUVNL last week," a source told PTI.

State-run power giant NTPC (200MW), Torrent Power (100MW), Saudi Arabian firm Al Jomaih Energy and Water Co. (80MW) and Aditya Birla Renewable (120) have emerged as the lowest bidders by quoting 1.99 per unit tariff under the auction, the source added.

Solar power tariff had dropped to record low of 2 per unit in an auction for 1,070 MW projects conducted by the Solar Energy Corporation of India (SECI) last month.

Under the SECI auction concluded last month, Al Jomaih Energy and Water Co. and Sembcorp Energy India arm Green Infra Wind Energy Ltd had emerged as the lowest bidders by quoting a tariff of 2 per unit for 200MW and 400MW capacities respectively.

Under the SECI auction, the NTPC quoted a price of 2.01 per unit for 600 MW capacity.

However, the NTPC got the balance amount of 470 MW even as it had bid for 600 MW because it was the L2 (second lowest) in the auction.

In July this year, solar power tariffs had dropped to a low of 2.36% in an auction of 2GW capacities by SECI.

This story has been published from a wire agency feed without modifications to the text.

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