At Rs 2.90 per unit, the country will have a 24-hour supply of renewable energy

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Mumbai, Ta. May 9, 2020, Saturday

The lowest price of Rs 2.50 per unit has been received against the first tender issued for 24-hour supply of renewable energy in the country. Tariff rates will be increased by 5 per cent every year and will continue for 15 years, government sources said.

This rate for providing renewable energy is close to the average rate of thermal power in India. The bid was invited by the Solar Energy Corporation of India to supply all day power from the solar plant. The Solar Energy Corporation of India under the Ministry of New and Renewable Energy is the nodal agency conducting the tender process.

As per the terms of the tender, the developer of the project can build a power plant with wind and hydro power or it can have an energy storage system.

Bids with a capacity of 50 nuts were received against the bid of the government for production of 500 nuts. The power for the project for which the bid has been approved will be procured by the New Delhi Municipal Corporation and Dadra and Nagar Haveli, the sources said.

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