In India, the solar tariff breached Rs.2.50 (~$0.038)/kWh, making it cheaper than thermal power in some cases. In the 500 MW Bhadla Phase-III Solar Park auction, ACME quoted a tariff of Rs.2.44 (~$0.037)/kWh to win bid to develop 200 MW of solar. The other winning bid was that of SBG Cleantech, which quoted Rs.2.45 (~$0.038)/kWh to develop 300 MW. Tariffs fell by 7 percent between the tariff quoted in the 250 MW Bhadla Phase-IV Solar Park (Rs.2.62 (~$0.0405)/kWh) auction and the lowest tariff quoted in the 500 MW Bhadla Phase-III Solar Park (Rs.2.44 (~$0.037)/kWh) auction, just one week prior.