Solar power developers agree to reduce tariffs in Jharkhand

Solar power developers that secured projects in the 1,200 MW mega auction in Jharkhand in March 2016 have agreed to reduce tariffs after an 18-month-long negotiation with the Jharkhand government. The tariffs have been reduced to a uniform rate of Rs 4.95 per kWh for projects over 25 MW and Rs 5.16 per kWh for projects below 25 MW. The winning bids initially ranged from Rs 5.08 to Rs 5.48 per kWh for projects above 25 MW, while for sub-25 MW projects, the bids ranged from Rs 5.29 per kWh to Rs 7.29 per kWh. Also, the total capacity allocated to developers has been reduced to about 685 MW after a few bidders withdrew while others sought to reduce the size of their respective projects.

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