Solar EPC prices plunge as global companies raise bar

A significant drop in global commodity prices and fierce competition among domestic cash-strapped power project contractors have led to a steep fall in prices of solar EPC ( engineering, procurement and construction) contracts, benefiting power asset owners and consumers.

EPC contractors are learnt to have quoted the lowest ever prices of around Rs 5.6 crore a megawatt for solar power projects of NTPC in Rajasthan (260 MW) and Madhya Pradesh (250 MW) in the first-ever re verse auctions in the domestic content category.

The development comes at a time when global and domestic solar power developers have been aggressively participating in the auctions, pushing down solar pow er tariffs to the lowest-ever levels of Rs 4.34 a unit in the latest auctions in Rajasthan. Read More…