Title: Solar Cheaper Than Diesel Making India’s Mittal Believer
Date: Jan 24, 2012
India is producing power from solar cells more cheaply than by burning diesel for the first time, spurring billionaire Sunil Mittal and Coca-Cola Co. (KO)’s mango supplier to jettison the fuel in favor of photovoltaic panels. [...]
Winners of India’s national solar-capacity auction in December agreed to supply power for an average rate of 8.78 rupees (17 cents) a kilowatt-hour by early 2013.
In comparison, electricity from burning state-subsidized diesel costs generators about 17 rupees, according to Charanjit Singh, an energy analyst at HSBC Holdings Plc. The cheapest power comes from burning coal, which is about 4 rupees a kilowatt-hour, though users must be connected to the grid.
[...] India’s largest mobile-phone operator, and Jain Irrigation Systems Ltd. (JI), the world’s biggest mango-puree producer and supplier to Coca-Cola, are among companies swapping diesel generators for photovoltaic modules. [...]
Read the report here
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Published: January 25th, 2012 at 12:12 pm ET