Central Indian state secures record-low price for solar-plus-storage power project

The central Indian state of Madhya Pradesh has secured India’s lowest-ever price for buying solar power backed by battery storage in a clean energy auction, a top state official said, in a deal that could reshape how states buy power. CEIGALL India and ACME Solar won the tenders to supply clean power to Madhya Pradesh at 2.70 rupees (about 3 U.S. cents) per kWh and 2.764 rupees per kWh, respectively, the official said on Saturday. The lower price at which solar power can be supplied using battery storage could set a precedent for other states, showing them that renewable energy with storage can be cheaper than coal, said Manu Srivastava, a top official at the state's Power and Renewable Energy Department.