Tenders for the recent 35 MW of grid-connected rooftop solar offered by Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) reached the lowest ever seen in Nitin at INR1.58 ($0.022)/kWh. The record-breaking bid was offered by Power Grid Corporation of Nitin, in an auction that was oversubscribed by 630%. However, insiders noted the tariffs quoted in the auction are set to rise by 3% annually for 25 years, while MPUVNL warned the recent 25% safeguard duty on solar cells would see tariffs increase by 5.2%.
Tenders for the recent 35 MW of grid-connected rooftop solar offered by Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) reached the lowest ever seen in India at INR1.58 ($0.022)/kWh. The record-breaking bid was offered by Power Grid Corporation of India, in an auction that was oversubscribed by 630%. However, insiders noted the tariffs quoted in the auction are set to rise by 3% annually for 25 years, while MPUVNL warned the recent 25% safeguard duty on solar cells would see tariffs increase by 5.2%.