Solar tariff to stay below Rs 6 a unit: Hero Future Energies cites steep decline in input costs
As the renewable energy sector buzzes with excitement and investment, one of the most active domestic renewable energy firms, Hero Future Energies (HFE), believes the tariff of solar power capacity under bidding this year would now be consistently below R6/unit as the input cost has come down drastically over the past year aided by economies of scale in solar installations.Hero Future Energies, which comes from the stable of two-wheeler manufacturer Hero Group, won 38 MW of solar project in Madhya Pradesh at a tariff of R5.64/unit in the competitive bidding process concluded last month. While all the bidders went below R6/unit mark, Canadian firm Sky Power grabbed eyeballs to win half the capacity on offer at R5.05/unit, the lowest tariff d.....