Continuing the fall of solar tariffs in the country, 250 Megawatt capacity of Bhadla phase IV solar park has received the lowest ever bids at Rs 2.62 per unit.

Phelan Energy Group and Avaada Power Private Limited have bagged 50 MW and 100 MW respectively at Rs 2.62 per unit while SBG Cleantech – a joint venture between SoftBank, Bharti Enterprises and Foxconn has bagged 100 MW at Rs 2.63 a unit.

“Another milestone towards PM Narendra Modi‘s vision of clean affordable power for all: Bhadla Solar Park achieves tariff of Rs. 2.62/unit,” power, coal, renewable energy and mines minister Piyush Goyal tweeted.

Other prominent players in the race were ACME Solar, Mahindra Renewables, Azure Power and ReNew Power.

The previous lowest bid price was achieved at the reverse auction carried out for 250 MW solar powe project at Kadapa in Andhra Pradesh were a levelised tariff of Rs 3.15 was quoted by Solairedirect Energy India, a subsidiary of French power giant Engie.

On Monday, solar sector consulting firm Bridge to India said with 8.8 Gigawatt of projected capacity addition — a growth of 76 per cent over 2016 — India is set to become the third-largest photovoltaic market (PV) market in 2017, which will overtake Japan.

Source: ET