An attempt has been made to estimate the unit capital cost of parabolic trough collector (PTC) based concentrating solar power (CSP) plants in India to facilitate their financial appraisal. While reviewing approaches mentioned in the literature, a significant variation is observed in unit capital cost estimates for a 50 MW wet cooled without storage PTC based plant (US $1700 to US $2662 per kW). To internalize the effect of alternate condenser cooling options and thermal energy storage on the unit capital cost, a new approach that is based on inventory of material used and associated costs have been suggested. With the use of this approach, the unit capital cost of a 50 MW wet cooled PTC plant is estimated at US $1734 per kW. Similarly, for the same nominal capacity plant with dry cooling, the unit capital cost is estimated at US $1994 per kW. Moreover, the effects of increased nominal capacity and hours of thermal energy storage on the unit capital cost have also been investigated. (C) 2020 Elsevier Ltd. All rights reserved.