Friday, October 04, 2013: India has plans to sell its power at a really low rate from a 4-gigawatt solar photovoltaic farm doubling the nation’s sun-powered capacity.
According to Tarun Kapoor, joint secretary at the ministry of new and renewable energy, “Six state-owned companies, including Bharat Heavy Electricals Ltd and Power Grid Corporation of India Ltd will form a joint venture to build the first gigawatt by the end of 2016 and sell their output at a maximum Rs.5,500 ($89) per megawatt-hour.”
As per livemint.com, the proposed price is Rs 10 less than the lowest solar power bid in India and t 32 per cent below the global average, data as compiled by Bloomberg show. Kapoor further reiterated that the new venture is going to receive a government grant.
India is currently suffering from peak-hour power shortages that are almost 25 per cent in certain states. The country is seeking to boost generation and bring down cost of electricity by constructing 100 gigawatts of ultra-mega coal-fired plants. The solar plant is going to be India’s first ultra-mega, clean-energy generator. The proposed rate is going to compete with Rs 4,500 per megawatt-hour that is charged by new coal power plants, according to Bridge to India, which is a New Delhi-based solar advisory.
