MNRE to award solar projects worth Rs 132 bn under National Mission

Under the Phase II of the Jawaharlal Nehru National Solar Mission, the Ministry of New and Renewable Energy (MNRE) will reportedly award solar power projects worth 1,650 MW or about Rs 132 billion in 2013-14.

According to a report by Business Line, the ministry plans to allocate another 1,950 MW to developers in the following year.

To sum it up, as much as 3,600 MW of solar power capacity will be allocated to project developers in a two-year time frame.

“Solar power prices have come down drastically over the past couple of years in tandem with the fall in the prices of solar modules. The highest tariff offered by a winning bidder in the previous round was Rs 9.44 a kWhr, down from Rs 12.76 in the round before,” the report added.