The country is now shifting from a feed-in tariff system to a competitive bidding process to add 300MW more solar. During a recent tender, the prices were 40 per cent lower than the offer, reflecting strong private sector interest. Auctions provide regulatory certainty to investors, while also supporting “real price” discovery. In 2016, India awarded solar projects in at least 13 different auctions that amount to 6.500MW at approximately $73/MWh.