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					</table>Renewable energy implementing agencies are leaning towards integrating energy storage systems with renewable energy to address the intermittency of solar and wind energy generation. The project configurations include round-the-clock power, firm and dispatchable energy, and assured peak power supply.
The bidding agencies are increasingly moving away from issuing standalone solar tenders. In 2025, only two standalone solar projects were auctioned.
Also in 2025, 11 renewables-plus-storage projects with a total capacity of 9.85 GW were auctioned. Of this, solar-plus-storage project auctions garnered the lowest tariffs.
Bidding agencies are increasingly moving away from issuing standalone solar tenders. In 2025, only two standalone solar projects were auctioned.
The lowest tariff recorded in these auctions in 2025 was ₹2.7 (~$0.0306)/kWh, a 20.8% drop from the ₹3.41 (~$0.037)/kWh recorded in 2024.
Here is a list of the five lowest solar-plus-storage tariffs discovered in auctions during 2025:
#1 Ceigall India <a href="https://www.mercomindia.com/acme-and-ceigall-win-rumsls-600-mw-solar-plus-storage-auction" target="_blank" rel="noopener">won</a> 220 MW by quoting a tariff of ₹2.7 (~$0.0306)/kWh in Rewa Ultra Mega Solar’s auction to develop a 600 MW solar project with battery energy storage systems (BESS) in the Morena Solar Park, Madhya Pradesh. ACME Solar Holdings also secured 220 MW but at a slightly higher tariff of ₹2.765 (~$0.0313).
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/1-3-1-scaled.jpg"><img loading="lazy" decoding="async" class="aligncenter wp-image-88564 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/1-3-1-scaled.jpg" alt="" width="2560" height="384" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/1-3-1-scaled.jpg 2560w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/1-3-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/1-3-1-2000x300.jpg 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/1-3-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/1-3-1-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/1-3-1-2048x307.jpg 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/1-3-1-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/1-3-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/1-3-1-600x90.jpg 600w" sizes="auto, (max-width: 2560px) 100vw, 2560px" /></a>
#2 Shivalaya Construction, Purvah Green Power, Welspun Renewable Energy, MB Power (Madhya Pradesh), Banyan Insolation, Stockwell Solar Services, LC Infra Projects, and Oswal Cables <a href="https://www.mercomindia.com/purvah-sael-among-winners-of-secis-2-gw-solar-4-gwh-energy-storage-auction" target="_blank" rel="noopener">quoted</a> a tariff of ₹2.86 (~$0.0326)/kWh to win 600 MW, 300 MW, 200 MW, 150 MW, 100 MW, 80 MW, 50 MW, and 50 MW, respectively, in Solar Energy Corporation of India’s Tranche XX auction to set up 2,000 MW interstate transmission system (ISTS)-connected solar projects, along with 1,000 MW/4,000 MWh energy storage systems.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/2-3-1-scaled.jpg"><img loading="lazy" decoding="async" class="aligncenter wp-image-88565 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/2-3-1-scaled.jpg" alt="" width="2560" height="384" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/2-3-1-scaled.jpg 2560w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/2-3-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/2-3-1-2000x300.jpg 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/2-3-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/2-3-1-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/2-3-1-2048x307.jpg 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/2-3-1-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/2-3-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/2-3-1-600x90.jpg 600w" sizes="auto, (max-width: 2560px) 100vw, 2560px" /></a>
#3 Onix Renewable, Jindal India Renewable Energy, NTPC Renewable Energy, and Kolar Solar Power (Rays Power Infra) <a href="https://www.mercomindia.com/nhpc-1-2-gw-solar-plus-storage-auction" target="_blank" rel="noopener">bagged</a> 100 MW, 180 MW, 300 MW, and 150 MW, respectively, at a tariff of ₹3.09 (~$0.0358)/kWh in NHPC’s auction to set up 1,200 MW ISTS-connected solar projects with 600 MW/1,200 MWh of ESS. ReNew Solar Power and Adani Renewable Energy Holding Nine (Adani Green) quoted ₹3.10 (~$0.0359)/kWh to win 300 MW and 170 MW, respectively.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/3-3-1-scaled.jpg"><img loading="lazy" decoding="async" class="aligncenter wp-image-88566 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/3-3-1-scaled.jpg" alt="" width="2560" height="384" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/3-3-1-scaled.jpg 2560w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/3-3-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/3-3-1-2000x300.jpg 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/3-3-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/3-3-1-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/3-3-1-2048x307.jpg 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/3-3-1-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/3-3-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/3-3-1-600x90.jpg 600w" sizes="auto, (max-width: 2560px) 100vw, 2560px" /></a>
#4  Reliance Infrastructure <a href="https://www.mercomindia.com/reliance-sael-jbm-pnc-navayuga-win-nhpcs-1-2-gw-solar-plus-storage-auction" target="_blank" rel="noopener">won</a> 390 MW, PNC Infratech 300 MW, SAEL Industries 300 MW, and JBM Renewables 150 MW, at a tariff of ₹3.13 (~$0.0365)/kWh in NHPC’s 1.2 GW auction (Tranche-XI) to set up ISTS-connected solar projects with 600 MW/2,400 MWh of ESS. Navayuga Engineering Company won 60 MW under the bucket filling method at the same tariff.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/4-3-1-scaled.jpg"><img loading="lazy" decoding="async" class="aligncenter wp-image-88567 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/4-3-1-scaled.jpg" alt="" width="2560" height="384" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/4-3-1-scaled.jpg 2560w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/4-3-1-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/4-3-1-2000x300.jpg 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/4-3-1-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/4-3-1-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/4-3-1-2048x307.jpg 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/4-3-1-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/4-3-1-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/4-3-1-600x90.jpg 600w" sizes="auto, (max-width: 2560px) 100vw, 2560px" /></a>
#5 SAEL Industries, Jindal India Renewable Energy, Sembcorp Green, and JBM Renewables <a href="https://www.mercomindia.com/reliance-jindal-among-winners-of-sjvns-1-2-gw-solar-plus-storage-auction" target="_blank" rel="noopener">quoted</a> a tariff of ₹3.32 (~$0.0389)/kWh to win 150 MW, 300 MW, 150 MW, and 150 MW, respectively, in SJVN’s auction to develop 1,200 MW ISTS-connected solar projects with 600 MW/2,400 MWh of ESS. Reliance NU Energies won 350 MW and Fastnote Biofuels 100 MW at a tariff of ₹3.33 (~$0.0390)/kWh.
<a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/5-3-scaled.jpg"><img loading="lazy" decoding="async" class="aligncenter wp-image-88568 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/5-3-scaled.jpg" alt="" width="2560" height="384" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/5-3-scaled.jpg 2560w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/5-3-300x45.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/5-3-2000x300.jpg 2000w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/5-3-768x115.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/5-3-1536x230.jpg 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/5-3-2048x307.jpg 2048w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/5-3-650x98.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/5-3-624x94.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/12/5-3-600x90.jpg 600w" sizes="auto, (max-width: 2560px) 100vw, 2560px" /></a>
Subscribe to Mercom’s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of tender activity in real time.

Five Lowest Renewable Plus Storage Auction Tariffs in India During 2025 [Infographics]

Researchers at the Solar Energy Research Institute of Singapore (<a href="http://www.seris.nus.edu.sg/" target="_blank" rel="noopener noreferrer">SERIS</a>) have claimed that bifacial solar modules that track the sun produced 35% more energy than regular modules and could help achieve some of the lowest Levelized Costs of Electricity (LCOE) in the world.
Solar trackers typically position the solar modules to align with the sun as it moves through the day so that more sunlight/energy is absorbed,which can be converted into power. There are two kinds of trackers single-axis trackers that track the sun over the day around one axis and dual-axis trackers, which can rotate around two axes simultaneously.
The researchers tried different combinations of trackers and solar modules to determine which one was the most cost and energy-efficient. They found that a combination of bifacial solar panels with a single-axis tracker would reduce the LCOE the most – by around 16%.
This LCOE was among the lowest in the world, with projected costs lower than 93.1% of the total land area in the world. Similar installations, but with monofacial modules, were only able to achieve the lowest LCOE in only 3.1% of the world&#8217;s land area.
The researchers said they arrived at these results after estimating the irradiance, reaching both the front and rear surfaces of the modules to estimate their energy production. Then, the overall system cost during their 25-year lifetime was factored in to obtain the LCOE.
However, despite being able to achieve the highest energy generation figures, these tracking solar modules are still too expensive and are hence, not cost-effective, according to the paper published in the Joule Journal.
Recently, scientists at St. Petersburg University in Russia <a href="https://mercomindia.com/scientists-propose-technology-reduce-cost-high-efficiency-solar-cells/" target="_blank" rel="noopener noreferrer">tested</a> a new technology for the fabrication of high-efficiency solar cells based on A3B5 semiconductors integrated on a silicon substrate.
Previously, a team of researchers at the Germany-based organization, Fraunhofer Center for Silicon Photovoltaics CSP, <a href="https://mercomindia.com/solar-modules-facades-deliver-energy-wall-mounted/" target="_blank" rel="noopener noreferrer">discovered</a> that photovoltaic elements on building facades could be useful to supplement the power supply.
Image credit: Nextracker

Tracking Bifacial Solar Modules Can Produce 35% More Energy: Report

The Rajasthan Electronics and Instruments Limited (<a href="http://www.reiljp.com/" target="_blank" rel="noopener noreferrer">REIL</a>) has released a list of the lowest bidders (L1) for its tender to develop 50 MW of rooftop solar projects across the country.
REIL received bids from five bidders for the entire tendered capacity of rooftop solar projects. Ashlyn (Parent company: Green Affiliates) Solar Infra Private Limited, Broil Solar Energy Limited, DD Project Services Private Limited, Suryam International Private Limited, and Synergy Engineers Group Private Limited placed bids ranging from ₹3.64 (~$0.048)/kWh to ₹5.08 (~$0.067)/kWh.
The lowest tariff was quoted by DD Project Services Private Limited to set up about 2.4 MW of projects in the state of Tamil Nadu. Meanwhile, the highest tariff was quoted by Broil Solar Energy Limited for setting up 662 kW of projects in Arunachal Pradesh.
In October 2019, REIL had <a href="https://mercomindia.com/reil-invites-bids-rooftop-solar-buildings-across-india/" target="_blank" rel="noopener noreferrer">invited</a> bids to develop 50 MW of grid-connected and small-scale solar projects in various states and union territories under the Renewable Energy Service Company (RESCO) model.
The projects are to be developed on the rooftops of government buildings. Solar power generated from these projects may be utilized for captive consumption, and surplus power is expected to be fed to the grid. Bidders are expected to quote a levelized tariff for 25 years. The scope of work included the design, engineering, manufacture, supply, storage, civil work, erection, testing, and commissioning of the projects.
According to <a href="https://mercomindia.com/product/q1-2020-india-solar-market-update/" target="_blank" rel="noopener noreferrer">Mercom’s Q1 2020 India Market Update</a>, cumulative rooftop solar installations stand at 4.6 GW. Under the rooftop solar category, the commercial and industrial (C&amp;I) sector has been hit the most due to low power demand because of the COVID-19 pandemic.
In March, REIL <a href="https://mercomindia.com/reil-tenders-solar-projects-substations-maharashtra/" target="_blank" rel="noopener noreferrer">invited</a> bids for setting up 3.5 MW of solar-projects ranging between 500 kW and 2 MW or more, at various locations and substations of the Maharashtra State Electricity Distribution Company Limited (MSEDCL). The scope of work included the design, engineering, supply, construction, erection, testing, transportation, unloading, installation, and commissioning of the projects.

Winners in the Rajasthan Electronics and Instruments’ 50 MW Rooftop Solar Tender

India’s solar industry is extremely price-sensitive, where the difference of a single penny can make a difference. Over 16 GW of solar projects were auctioned in 2019, and the lowest discovered tariff in these auctions was ₹2.48 (~$0.0329)/kWh a 1.6% increase compared to the lowest tariff in 2018 of ₹2.44 (~$0.0324)/kWh. Since the imposition of safeguard duty in July 2018, the lowest tariffs have trended upward.
Four bidders quoted the lowest tariff of 2019 in the first phase of the Solar Energy Corporation of India’s (SECI) 750 MW solar tender for projects in the state of Rajasthan.
The tender, originally <a href="https://mercomindia.com/seci-tenders-750mw-solar-rajasthan/" target="_blank" rel="noopener noreferrer">floated</a> in August 2018, was <a href="https://mercomindia.com/seci-750mw-solar-tender-oversubscribed/" target="_blank" rel="noopener noreferrer">oversubscribed</a> and received bids for over 2.3 GW from interested bidders. The upper tariff ceiling was ₹2.68 (~$0.0356)/kWh for this auction. This project received the two lowest bids during the year.
The lowest tariff of ₹2.48 (~$0.0329)/kWh was <a href="https://mercomindia.com/solar-auction-results-750-mw-rajasthan/" target="_blank" rel="noopener noreferrer">quoted</a> by Fortum Solar, Acme Solar, UPC Renewables, and LNB Group for this project. Fortum Solar and Acme Solar were awarded 250 MW of projects each, while UPC Renewables and LNB Group were awarded 100 MW and 40 MW, respectively.
<a href="https://mercomindia.com/wp-content/uploads/2020/06/Lowest-Solar-Tariff-in-2019.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-19557" src="https://mercomindia.com/wp-content/uploads/2020/06/Lowest-Solar-Tariff-in-2019.png" alt="Lowest Solar Tariff in 2019" width="315" height="126" srcset="https://cms.mercomindia.com/wp-content/uploads/2020/06/Lowest-Solar-Tariff-in-2019.png 315w, https://cms.mercomindia.com/wp-content/uploads/2020/06/Lowest-Solar-Tariff-in-2019-300x120.png 300w" sizes="auto, (max-width: 315px) 100vw, 315px" /></a>
In the same auction, ReNew power quoted the second-lowest tariff during the year at ₹2.49 (~$0.0331)/kWh to develop 360 MW. However, they were awarded only 110 MW due to the bucket-filling method applied to the awarded capacities in reverse auctions.
<a href="https://mercomindia.com/wp-content/uploads/2020/06/2nd-Lowest-Solar-Tariff-in-2019.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-19556" src="https://mercomindia.com/wp-content/uploads/2020/06/2nd-Lowest-Solar-Tariff-in-2019.png" alt="2nd Lowest Solar Tariff in 2019" width="313" height="128" srcset="https://cms.mercomindia.com/wp-content/uploads/2020/06/2nd-Lowest-Solar-Tariff-in-2019.png 313w, https://cms.mercomindia.com/wp-content/uploads/2020/06/2nd-Lowest-Solar-Tariff-in-2019-300x123.png 300w" sizes="auto, (max-width: 313px) 100vw, 313px" /></a>
The third lowest tariff of ₹2.50 (~$0.0332)/kWh was <a href="https://mercomindia.com/seci-750-solar-auction-rajasthan/" target="_blank" rel="noopener noreferrer">quoted</a> by Hero Future Energies, Mahindra Susten, and NTPC Limited under the second phase of SECI’s tender for 750 MW of solar projects in Rajasthan. The companies were awarded 250 MW, 200 MW, and 160 MW of projects, respectively.
<a href="https://mercomindia.com/wp-content/uploads/2020/06/3rd-Lowest-Solar-Tariff-in-2019.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-19555" src="https://mercomindia.com/wp-content/uploads/2020/06/3rd-Lowest-Solar-Tariff-in-2019.png" alt="3rd Lowest Solar Tariff in 2019" width="314" height="129" srcset="https://cms.mercomindia.com/wp-content/uploads/2020/06/3rd-Lowest-Solar-Tariff-in-2019.png 314w, https://cms.mercomindia.com/wp-content/uploads/2020/06/3rd-Lowest-Solar-Tariff-in-2019-300x123.png 300w" sizes="auto, (max-width: 314px) 100vw, 314px" /></a>
The fourth-lowest tariff during the year, ₹2.53 (~$0.0336)/kWh, was <a href="https://mercomindia.com/seci-auctions-solar-tender-lowest-tariff/" target="_blank" rel="noopener noreferrer">discovered</a> during the auction for SECI’s tender for 1,200 MW of solar projects under interstate transmission system V (ISTS-V). GRT Jewellers won 150 MW of projects. In the same auction, 330 MW was allocated to SB Energy at a tariff of ₹2.65 (~$0.0352)/kWh. This tender had been <a href="https://mercomindia.com/seci-1-2-gw-solar-tender-undersubscribed/" target="_blank" rel="noopener noreferrer">undersubscribed</a> by 50%, receiving bids for only 600 MW of solar capacity. Developers had then told Mercom that most large players were struggling with cash flows, and the Andhra Pradesh fiasco also had hurt the developer sentiment. Most importantly, developers were unhappy with the tariff caps.
<a href="https://mercomindia.com/wp-content/uploads/2020/06/4th-Lowest-Solar-Tariff-in-2019.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-19554" src="https://mercomindia.com/wp-content/uploads/2020/06/4th-Lowest-Solar-Tariff-in-2019.png" alt="4th Lowest Solar Tariff in 2019" width="314" height="131" srcset="https://cms.mercomindia.com/wp-content/uploads/2020/06/4th-Lowest-Solar-Tariff-in-2019.png 314w, https://cms.mercomindia.com/wp-content/uploads/2020/06/4th-Lowest-Solar-Tariff-in-2019-300x125.png 300w" sizes="auto, (max-width: 314px) 100vw, 314px" /></a>
Finally, the fifth-lowest tariff of ₹2.54 (~$0.0337)/kWh was <a href="https://mercomindia.com/seci-auctions-solar-tender-lowest-tariff/" target="_blank" rel="noopener noreferrer">quoted</a> during the auction of SECI’s 1.2 GW solar PV projects to be connected to the designated ISTS network in Madhya Pradesh (ISTS-VI). This price was quoted by Ayana Renewables, ReNew Power, Azure Power, and Mahindra Susten. The first three companies were awarded 300 MW each, while Mahindra won 250 MW of solar projects.
<a href="https://mercomindia.com/wp-content/uploads/2020/06/5th-Lowest-Solar-Tariff-in-2019.png"><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-19553" src="https://mercomindia.com/wp-content/uploads/2020/06/5th-Lowest-Solar-Tariff-in-2019.png" alt="5th Lowest Solar Tariff in 2019" width="315" height="131" srcset="https://cms.mercomindia.com/wp-content/uploads/2020/06/5th-Lowest-Solar-Tariff-in-2019.png 315w, https://cms.mercomindia.com/wp-content/uploads/2020/06/5th-Lowest-Solar-Tariff-in-2019-300x125.png 300w" sizes="auto, (max-width: 315px) 100vw, 315px" /></a>
In 2018, over 13 GW of solar capacity was <a href="https://mercomindia.com/lowest-solar-tariffs-quoted-2018/" target="_blank" rel="noopener noreferrer">auctioned</a> during the year with the lowest discovered tariff in these auctions recorded at ₹2.44 (~$0.0324)/kWh, which has quoted four times in 2018 and was the lowest solar tariff the country had seen since 2017.
Mercom has previously <a href="https://mercomindia.com/mnre-mulls-removal-tariff-caps-solar-wind/" target="_blank" rel="noopener noreferrer">reported</a> on how tariff caps have been slowing down auction activity in the sector. Developers have denied bidding at the tariff levels specified by state agencies instead of a market-based auction, where the lowest bid wins. This has been the reason for most tender deadlines to be extended or retendered after raising the upper tariff ceiling. This trend of tender extensions and retenders has also led to a delay in auction activity.
In March, the Ministry for New and Renewable Energy <a href="https://mercomindia.com/no-more-tariff-caps-solar-wind-tenders/" target="_blank" rel="noopener noreferrer">said</a> that upper ceiling tariffs or tariff caps would no longer be prescribed in future bids.
For a complete analysis of tenders, auctions and tariffs subscribe to <a href="https://mercomindia.com/product/q1-2020-india-solar-market-update/" target="_blank" rel="noopener noreferrer">Mercom India Quarterly Update</a> report. To receive alerts for tenders and track every tender as it is announced, get <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener noreferrer">Mercom’s India Solar Tender Tracker</a>.

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