MP rooftop solar tender fetches lowest tariff of Rs 1.38/unit

New Delhi : A Madhya Pradesh Urja Vikas Nigam Ltd (MPUVN) rooftop solar tender for central government buildings has fetched a lowest tariff quote of Rs 1.38 per unit attracted by an auction in the country so far, a MPUVN statement said on Friday.

State government medical colleges, also a beneficiary in the tender, have got a rate of Rs 1.63 per unit for the first year."The rates would increase by 3 per cent annually and would roughly double at the end of 25 years," MPUVN said in a statement."Madhya Pradesh has discovered the lowest rate of Rs 1.38 per unit for first year in central government buildings, which is one fourth of what the consumers are presently paying."The RESCO-II tender issued by MPUVN attracted 9 international and domestic bidders, who oversubscribed the 8.6 MWp rooftop tender capacity by more than 630 per cent, the statement added.The RESCO project in Madhya Pradesh is being implemented as a part of the Centre's Rooftop Solar Programme with support from the World Bank under the Global Environment Facility Fund.According to MPUVN, the RESCO model facilitates the beneficiary consumer to enjoy solar power with zero upfront investment and at rates much below the prevailing distribution company rates.