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

Under the SECI auction concluded early this week, 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 ₹2 per unit for 200MW and 400MW capacities.

NTPC quoted a price of ₹ 2.01 per unit for 600 MW capacity. 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.