New Delhi, Nov 23 (PTI) Solar power tariff on Monday dropped to an all-time low of Rs 2 per unit in an auction conducted by the Solar Energy Corporation of India (SECI), according to a source.

Under the SECI auction concluded on Monday, Saudi Arabian firm Aljoemaih Energy and Water Co. and Sembcorp Energy India arm Green Infra Wind Energy Ltd emerged as the lowest bidders by quoting a tariff of Rs 2 per unit for 200MW and 400MW capacities, a source told PTI.

Also Read | SamJam: Rana Daggubati Breaks Down As He Opens Up About His Health Conditions, Tells Samantha Akkineni That There Were '30 per Cent Chance of Death' (Watch Video).

The source further said that state-run power giant NTPC quoted a price of Rs 2.01 per unit for 600 MW capacity.

However, NTPC will get the balance amount of 470 MW even as it bid for 600 MW because it is the L2 (second lowest) in the auction.

Also Read | Black Friday 2020: Best Deals on Apple iPhones, Samsung S20 Series, Amazon Echo, Headphones & More.

In July this year, solar power tariffs had dropped to a low of Rs 2.36 per unit in an auction of 2GW capacities by SECI.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)