India wears green stripes with pride
Driven by a historic low solar and wind power tariff, India is about to take a leap of faith on the renewable energy front, lining up green project auctions to the tune of about Rs 2.7 lakh crore in 2018.
The government has drawn up a plan to auction 30 GW (gigawatt) of solar, 10 GW of wind and 5 GW of offshore wind projects next fiscal, pegged at Rs 2.7 lakh crore with an average equipment cost of Rs 6 crore per megawatt (MW).
To put things in perspective, wind power tariff dropped sharply to an all-time low of Rs 2.43 per unit during an auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL) yesterday.
Earlier, the tariff was down at Rs 2.64 during the second auction of the Solar Energy Corporation of India (SECI) for 1 GW projects in October this year. In the first round, the tariff stood at Rs 3.46.