Wind power tariffs on Friday fell to an all-time low of Rs 3.46 per kilowatt hour at an auction by the Solar Energy Corporation of India Ltd, reported Business Standard. The current average Feed-in-Tariff is Rs 5 per unit in the wind sector.

This comes a week after solar power tariffs also touched an all-time low of Rs 2.97 per unit earlier this month for Madhya Pradesh’s Rewa Solar Park.

The auction, which was the first of its kind, was held for up to one gigawatt for several wind projects. Bidders Mytrah Energy (India), Green Infra Ltd, Ostro Kutch Wind Pvt Ltd, and Inox Wind Infrastructure won contracts for 250 megawatts each. Adani Green Energy won a 50-MW project and Singapore-based Sembcorp Industries Ltd won a contract for 249.90 MW, reported Reuters.

ReGen Powertech Pvt Ltd, ReNew Power Ventures Pvt Ltd, Gamesa Renewable and RP-Sanjiv Goenka’s Group CESC Ltd were the other firms that participated in the bidding, reported Mint. SECI will decide the project site that will be offered to the winning companies.

“After solar cost reduction below Rs 3/unit, wind power cost down to Rs 3.46/unit through transparent auction. A green future awaits India,” Piyush Goyal, Minister of State for Powerand Renewable Energy said.

By 2022, the government wants to raise its renewable energy to 175 gigawatt, as part of the Paris climate change agreement. Companies have been bidding for low tariffs for solar and wind projects to challenge the power generated by fossil fuels in the future.