Rewa solar project receives sub Rs 4/unit bids

NEW DELHI: Madhya Pradesh government's Rewa ultra mega solar park has received the lowest bid of Rs 3.59 per unit. The tariffs are set to reduce further as the reverse e-auction for the 750-mw solar project are set to start on Thursday.

Manu Srivastava, principal secretary, new and renewable energy, Madhya Pradesh government told ET that Rs 4 per unit barrier has been breached by Rewa project even before auction.

According to the bidding rules, the lowest initial tariff would be the base price for the reverse auction. Rewa ulta mega solar, a 50:50 joint venture of Madhya Pradesh Urja Vikas Ltd and Solar Energy Corp of India will sell the electricity produced to Madhya Pradesh utilities and Delhi Metro Rail on an open access basis.