The solar farm benefits from a power purchase agreement with the Solar Energy Corporation of India at an INR 2.49/kWh (US $0.034/kWh) tariff. The electricity generated will be supplied to the state Discom of Rajasthan.
The developer has secured the revolving fund from 12 international banks. It would use the amount to initially finance its 1.69 GW hybrid portfolio of solar and wind projects to be set up in the Indian state of Rajasthan.
UPC-AC Energy Solar has closed a debt-to-equity financing deal with the US International Development Finance Corporation (DFC) to develop a 100 MW PV project in Rajasthan.
Developers can bid for anywhere from 10 MW to all of the available capacity. The projects are to be developed on a build-own-operate basis in minimum sizes of 10 MW. Bidding closes on April 19.
The Indian engineering, procurement and construction contractor has secured orders to build two solar plants of 200 MW each in Gujarat. It has also won significant contracts for power transmission and distribution related work in Rajasthan, West Bengal, Tamil Nadu, and Arabian country Qatar.
Bidders have until February 22 to lodge their interest to develop the PV capacity that shall come up in three blocks of 245 MW each at Nokh Solar Park.
The project, currently under construction in Rajasthan, was won by the developer in a Solar Energy Corporation of India (SECI) auction.
Solar power developers have until February 10 to bid for the capacity, which shall be awarded through international competitive bidding followed by reverse auction.
The state—which is already home to 2250 MW Bhadla Solar Park—is on pace to complete a 925 MW Nokh Solar Park in the Jaisalmer district.
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