The winning bid, for 300 MW of generation capacity by Spanish developer Solarpack in a 2 GW auction is 3.3% lower than the previous record of Rs2.44.
A 2 GW tender conducted by the Solar Energy Corporation of India has reportedly concluded with prices of Rs2.36-2.38/kWh, according to a tweet which emerged this afternoon.
The country—aiming for a renewable power target of 450 GW by 2030—has emerged as the world’s largest and most competitive clean energy auction market.
The PV plant—the EPC provider’s largest in USA—will use bifacial modules and likely be commissioned by November 2021.
The electricity generated will be supplied to Maharashtra State Electricity Distribution Co Ltd (MSEDCL) under a 25-year power purchase agreement.
After a 285 MW award from Togo, this is the second such overseas contract for the state-owned power producer which aims to anchor 10 GW of solar parks in ISA member countries over two years.
Vaibhav Pratap Singh, senior analyst at the CEEW Centre for Energy Finance, tells pv magazine about the impact of the Covid-19 pandemic on the Indian solar sector, green finance and investment down the line.
The lobby group has asked the ministry that the interstate transmission charges waiver be extended to cover solar and wind projects that get commissioned up to December 31, 2023. It also recommended that the waiver be linked to bidding, allowing projects commissioned within 36 months from the award of contract to avail the exemption, even if they get commissioned beyond December 31, 2023.
India is running the world’s largest renewable energy expansion program with a mind-boggling target of 450 GW by 2030. Can the country with a growing energy demand do more than this? Can it do what developed countries should have done years ago?
The Maharashtra project is the developer’s second large-scale solar win this month following a 120 MW project in Gujarat. The electricity generated will be supplied to Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) under a 25-year power purchase agreement.
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