Wind Power Costs Plunge in Asia's First Auction for Contracts
- Mytrah, Inox, Green Infra, Ostro, Adani win India projects
- Auctions force developers to compete for renewable capacity
Solar panels implemented by Amplus Solar stand on the roof of the Yamaha Motor Co. plant in Surajpur, Uttar Pradesh, India, on Wednesday, July 20, 2016. The Japanese motorcycle maker wants solar power to supply a quarter of energy needs at its northern Indian factories near Delhi, according to company executives.
Photographer: Prashanth Vishwanathan/BloombergThe cost of power generated from wind turbines plunged in Asia’s first auction for contracts to deploy the technology, a victory for India’s effort to reduce pollution and ensure supplies.
Solar Energy Corp. of India Ltd., which conducted the auction for the government, said late Friday that it received bids to supply wind power for 3.46 rupees (5 U.S. cents) a kilowatt-hour. Previously, feed-in tariffs for wind energy ranged from 4 rupees to 5 rupees a kilowatt-hour across India’s windy states.