The Ministry of New and Renewable Energy (MNRE) today said its new guidelines for tariff based bidding for procuring solar power would reduce risk, enhance transparency and increase affordability. <br/><br/>The Ministry had issued the guidelines for procurement of power from Grid Connected Solar Power Projects on 3rd of this month. In a statement the Ministry said, the move will help protect consumer interests through affordable power. <br/><br/>It will also provide standardisation and uniformity in processes and a risk-sharing framework between various stakeholders involved in the solar power procurement. <br/><br/>The guidelines also streamline the provision for project preparedness to expedite and facilitate the setting up of projects. Besides, to ensure lower tariffs, minimum Power Purchase Agreement-PPA tenure has been kept at 25 years. Moreover unilateral termination or amendment of PPA is not allowed.