India's first hybrid solar-wind auction yields tariff under Rs 2.70/unit

In the country's first solar-wind hybrid auction conducted by the state-run Solar Energy Corporation of India (SECI) has yielded the lowest highly competitive tariff of less than Rs 2.70 per unit, the government said on Wednesday.

Addressing the 54th SKOCH Summit here, Union New and Renewable Energy Secretary Anand Kumar said the government has also embarked on the development of non-conventional renewable energy sources, while the first round of auctions for floating solar projects had also successfully discovered tariffs as low as Rs 3.22 per unit.

"The first bidding for hybrid solar-cum-wind projects has been successfully held and a tariff of Rs 2.67 per unit has emerged as the lowest one," he said.

Kumar also said that having made a global commitment that, 40 per cent of India's electric capacity would come from non-fossil fuels by 2030, the country is well on course to install 175 gigawat (GW) of renewable capacity by 2022.

"We have already installed 73.35 GW, projects worth 21.5 GW are under various stages of implementation and projects amounting to another 25 GW are under various stages of bidding," he added.