Active Stocks
Tue Mar 05 2024 15:53:49
  1. ICICI Bank share price
  2. 1,088.10 -0.34%
  1. Tata Motors share price
  2. 1,021.95 3.52%
  1. Tata Steel share price
  2. 151.85 -0.82%
  1. NTPC share price
  2. 358.25 1.26%
  1. Titan Company share price
  2. 3,748.45 0.44%
Business News/ Industry / Energy/  Solar tariffs rise 4% from record low in latest auction

Solar tariffs rise 4% from record low in latest auction

Ayana Renewable Power, ReNew Power and Azure Power Global won 300 megawatts each
  • Mahindra Susten scooped up 250 megawatts quoting ₹2.54 a kilowatt-hour
  • Premium

    New Delhi: Solar tariffs in India rose 4% from a record low in Wednesday’s federal auction, in which five companies won rights to build and operate 1.2 gigawatts of projects.

    Ayana Renewable Power Pvt., ReNew Power Ltd. and Azure Power Global Ltd. won 300 megawatts each, while Mahindra Susten Pvt. scooped up 250 megawatts quoting 2.54 a kilowatt-hour, according to state-owned Solar Energy Corp. of India, which conducted the auction. Avaada Energy Pvt. won 50 megawatts at 2.55 a kilowatt-hour.

    The price arrived at the auction was higher than the record low of 2.44 a kilowatt-hour. A tariff ceiling of 2.65 a kilowatt-hour was set for today’s auction.

    Prime Minister Narendra Modi’s government has adopted auctions as the preferred method to achieve his target of 100 gigawatts of solar energy capacity by 2022. India had installed over 27 gigawatts of ground-mounted solar projects as of May-end.

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    Catch all the Industry News, Banking News and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
    More Less
    Published: 13 Jun 2019, 01:08 AM IST
    Next Story footLogo
    Recommended For You
    Energy Stocks
    Switch to the Mint app for fast and personalized news - Get App