The Karnataka Electricity Regulatory Commission (KERC) has set Rs.4.36 (~$0.064)/kWh as the benchmark tariff for grid-connected large-scale solar projects for financial year (FY) 2017-18. The new benchmark tariff will be applicable to all new grid-connected MW-scale solar PV projects entering into power purchase agreements (PPA) on or after April 1, 2017, and before April 1, 2018.