The lowest bid came from the United Arab Emirates' own Masdar working alongside Spanish partner Fotowatio Renewable Ventures, according to local reports.

The price undercuts Enel Green Power's record-low bid in Mexico's recent renewables tender, setting yet another record for the industry.

The other four bids reportedly came from China’s JinkoSolar; Saudi Arabia’s ACWA Power and US partner First Solar; France’s Engie and Japanese partner Marubeni; and France’s EDF and Qatari partner Nebras.

ACWA