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CERC slashes benchmark cost for solar PV projects by 75 lakh/MW

Central Electricity Regulatory Commission (CERC) has slashed benchmark cost for solar PV projects for 2016-17 by 75 lakh per MW on likely fall in module prices. The CERC's benchmark cost for solar projects for 2015-16 is Rs 6.05 per MW, which will come down to Rs 5.30 crore per MW from April 1.

 

The regulator has taken module price of 0.48 dollar per watt to arrive at the revised price. Developers argued that the cost of locally manufactured modules and cells and not of imports should be taken for reference as the former was 17 per cent costlier due to higher input cost of the Indian manufacturers. But meanwhile, the regulatory has retained the benchmark cost for solar thermal project at Rs 12 crore per MW on the ground that it is a new technology. 

CERC's benchmark cost may not be applicable to solar projects awarded through bidding route but it does indicate market trend. Anyway, tariffs discovered through bidding route are much lower than the CERC rate.

The falling trend in global solar equipment assumes added significance for India which has embarked on a programme to add 1 lakh MW solar capacity by 2022.India's solar capacity is projected to reach 6,500 MW by end of this fiscal and another 12,000 MW is likely to be added in 2016-17.Tenders have already been issued for award of contracts for projects worth more than 18,000 MW.UNI NM SB1022

 

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