Solar power sector in India is on a roll. Around 150 companies are racing to offer 2,500 megawatts of projects for the second round of bidding. The new capacity is seven times the actual capacity of 350 MW for which bids were invited initially. The new projects in line are offering hopes that soon the electricity tariffs from the renewable source would fall below Rs 10 per unit.
In the second round of projects under the Jawaharlal Nehru Solar Mission, a total of 218 projects are in line costing Rs 3,500 crore and about 150 companies are vying for them, according to a report. The project aims to add 20,000 MW of solar capacity in the present decade.
Previously, the government received bid applications for about 1,700 MW for 150 MW solar power allocation. The companies, which will submit the financial bids by next month-end, will be shortlisted by the second week of November.
The companies will offer discounts to the prescribed tariff of Rs 17.91 per unit fixed by the regulator in order to compete for the projects. In the previous round of bidding, companies like Mahindra Solar One, Azure Power, Lanco Infratech and IOCL had bid for the project