Amunche Solar, a local venture controlled by Spanish developer Solarpack, will deliver 110GWh annually for the next 20 years for $64.85/MWh following last week’s auction.

“This is by far the lowest non-subsidised price in the world,” said Adam James, senior solar power analyst at GTM Research.

James claimed that if indirect subsidies due to cheap financing from government authorities are included, the $58.50/MWh