The Financial Times has outlined details of this project, which went up for auction in May. The companies which won the bid have said that they can build the project for 2.44 rupees ($0.04) for every unit of electricity eventually generated. The article was written by Kiran Stacey from New Delhi and published on 1st November 2017. See:
This detailed and interesting article provides a number of facts about India’s place in the renewable energy field.
- India’s solar power tariffs have reduced from over 8Rs/Kwh to 2.44Rs in the last six years.
- Solar power in India has grown at double digit rates over the last six years.
- There are plans to increase India’s solar capacity by 76% more in 2017 than in 2016, which will make India the third largest solar market globally. An interesting graph is included in the FT article, which shows that China is by far the leading solar industry around the world. In second place is the USA, though their additional capacity has dropped in the last year. The capacity of Japan and Germany is also dropping, which has enabled India to soar into third place.
- The price of Chinese-made solar panels has tumbled in recent years, due to over-production.
- At present, 60% of India’s energy is coal-powered, so there is still a long way to go, though the reducing price of solar panels makes the solar industry much more competitive.
The FT article mainly focuses on the economical effects of these changes and the risks associated with them.
However, it makes sense for this to happen, in view of the rising temperatures experienced in India in the last few years.
Map of India showing high temperature areas during recent heat wave
And now, further details of the new solar development in Rajasthan have come to me, as follows:
The winning bid for the third and fourth phase development at Bhadla solar park in Rajasthan – a500-megawatt solar farm – was one of the lowest prices for solar power ever seen anywhere in the world. The companies — Acme Solar, an Indian developer, and SBG Cleantech, a joint venture whose shareholders include SoftBank of Japan — said they would build the project for a guaranteed price of just Rs2.44 ($0.04) for every unit of electricity they eventually sold – substantially cheaper than coal
The Bhadla auction confirmed that the country is undergoing a generational shift from coal-fuelled power to solar and wind and placed India at the centre of a global renewables revolution that is driving down the cost of green energy and which represents one of the biggest threats to fossil fuels.
As India is already the world’s third-biggest carbon emitter and plans to electrify even its most remote villages within two years, a rapid expansion in the country’s renewables sector would prove a huge boost for attempts to keep global temperature rises below 2C — the target set by the 2015 Paris climate accords.
Further details can be found at: