New Delhi, Apr 13: Solar power tariff remained below Rs 5 per unit in the latest auction conducted by state-run NTPC Ltd for 500 MW capacity at Pavagada Solar Park in Tumkur, Karnataka. “The lowest tariff was quoted at Rs 4.78 per unit in the auction concluded yesterday by the NTPC Ltd for its solar capacity at Pavagada Solar Park in Tumkur district of Karnataka,” a source said. “One company quoted Rs 4.8 per unit while four firms gave same price of Rs 4.79 per unit under the auction for solar project,” he said. (Read: Fortum to invest up to 400 million euros in India’s solar projects)Also Read - NTPC Recruitment 2021: Jobs Announced For Various Posts in NTPC, No Exam Required, Salary Over 70,000 | Check Eligibility, Important Dates & Other Details

However, the tariffs bid were above the record low of 4.34/unit seen in January. RattanIndia arm Yarrow Infrastructure Ltd quoted the lowest price of Rs 4.78 per unit and bagged 50 MW project under the auction conducted by NTPC yesterday. Adani, Fortum India, ACME and Tata Power Renewable quoted the price of Rs 4.79 per unit and bagged 100 MW each under the solar power park project. Renew Power gave the price of Rs 4.80 per unit and got 50 MW under the project. Also Read - Business Tycoons Mukesh Ambani, Gautam Adani in a New Face-off. Here's Why

NTPC has planned a capacity addition of about 1,000 MW through renewable resources by 2017. It has already commissioned 110 MW Solar PV Projects and another 15 MW Solar PV and 8 MW Small Hydro Projects are under implementation. Solar power tariff had touched all time low of Rs 4.63 per unit in November last year when SunEdison quoted the price of electricity in an e-auction by NTPC for 500 MW project in solar power park in Kurnool District of Andhra Pradesh. After that the solar power tariff fell to another all-time low of Rs 4.34 per unit when Finland-based energy firm Fortum Finnsurya Energy quoted this price to bag 70 MW solar plant under NTPC’s Bhadla Solar Park tender in January. Also Read - NTPC to Launch Hydrogen Fuel Bus Service on Delhi-Jaipur Route Soon

Under this auction, NTPC had bid out 420 mw in six blocks of 70 mw each at Bhadla Solar Park in Jodhpur district of Rajasthan. Others who won projects included Rising Sun Energy Pvt Ltd (two blocks for Rs 4.35 a unit), Solairedirect (two blocks for Rs 4.35 a unit) and Yarrow Infrastructure (one block for Rs 4.36). Earlier last year NTPC had committed to 10,000 MW through solar power generation capacity at the Renewable Energy Global Investment Meet.