new delhi solar power tariffs in india have found a new floor at rs 297 per unit sinking below the average cost of rs 3 for electricity supplied by staterun generation utility ntpc from its coalfired plantthe record low tariff was quoted by the mumbaibased real estate developer for the first unit of the 750 mw rewa solar park in madhya pradesh the bidding for which closed on fridayindia marches on towards realising the clean energy vision of honble pm narendra modi power minister piyush goyal tweeted at the close of biddingthe quoted tariff is for the first year of the project which has three units of 250 mw each the project however envisages an annual escalation of 5 paise for 15 years and 33 paise is to be added for levelised tarifflevelised tariff in the power sector essentially refers to the average fixed and variable components of tariff over the entire term of the sale agreement adjusted for inflationthe quotes by winners of other two units had only fractional difference german group solenbergs quote of rs 2974 for the third unit was the next lowest while the mahindra group won the second unit by quoting rs 2979 per unitthe project is to be completed in 18 months of signing agreements and will supply 80 of the generated power to the state and remaining 20 to delhi metro rail corporation under a 25year agreementsolar power tariffs have been falling in the last two years due to the narendra modi governments thrust on raising indias green energy footprint and reduce oil imports by 10 by 2030 after coming to power in 2014 the modi government metamorphosed the upas national solar mission by setting a target of building 175 giga watt of green energy capacity by 2030as reported by toi solar tariffs had sunk to rs 3 per unit gurgaonbased amplus energy solutions in the auctions conducted by solar energy corporation of india for a clutch of rooftop solar power projectstill then rhe solar project at badhla in rajasthan held the record for the lowest tariff at rs 4 per unit in the solar park category the lowest tariff before that was rs 434 per unit quoted by fortum india in january 2016 for one of the six packets of 70 mw 420 mw total each bid out by staterun generation utility ntpc for an earlier phase of the bhadla project