India recently hosted its largest auction for solar energy, which brought about a further reduction in prices. Acme Cleantech Solutions Ltd. and Mytrah Energy Ltd. emerged as the top winners in bids to build 2,000 megawatts of solar farms in the southern state of Telangana. Together, they reaped 763 megawatts of contracts.
The auction represents congress in the PM Modi's goal to install 100 gigawatts of solar capacity by 2022. The country currently has 4 gigawatts of solar capacity, or 4,000 megawatts.
“This year’s weighted average bid price is likely to fall below 6 rupees (9 cents) a kilowatt-hour, which would be about 15 percent lower than the 2014 average,” said Bharat Bhushan Agrawal, an analyst at Bloomberg New Energy Finance.
The auction represents congress in the PM Modi's goal to install 100 gigawatts of solar capacity by 2022. The country currently has 4 gigawatts of solar capacity, or 4,000 megawatts.
“This year’s weighted average bid price is likely to fall below 6 rupees (9 cents) a kilowatt-hour, which would be about 15 percent lower than the 2014 average,” said Bharat Bhushan Agrawal, an analyst at Bloomberg New Energy Finance.
