Utility scale solar projects totaling 127 MW have been commissioned across three Indian states by three large-scale project developers during the third week of May. The projects are located in the states of Odisha, Andhra Pradesh, and Karnataka.
Azure power recently commissioned a 50 MW project in Ananthapuramu Solar Park in Andhra Pradesh. The project is spread across 250 acres and will supply power for 25 years to Solar Energy Corporation of India (SECI). The PPA has been signed at a levelized tariff of ₹4.79 (~$0.075)/kWh which includes VGF.
Inderpreet Wadhwa, the founder of Azure Power said in a press release, “We started with the vision of providing affordable solar power for generations and the mission to be the lowest cost power producer in the world. Through our collective efforts and support from our stakeholders, we have achieved this important milestone of 1,000 MWs operating through large-scale, mini/micro grid and rooftop solutions across the entire country. We are delighted to make this contribution towards the realization of our Hon’ble Prime Minister’s commitment of clean and green energy, through solar power generation.”
According to Mercom’s India Solar Project Tracker, Azure Power has installed large-scale solar capacity of 969 MW and development pipeline of 560 MW
Another renewable project developer Canadian Solar set up its 35 MW project in Bagalkot district of Karnataka. The commercial and industrial (C&I) solar project portfolio is expected to generate approximately 54,000 MWh of solar power every year.
“We are delighted to launch our first C&I solar portfolio in India which creates sustainable value for our customers. Local businesses can benefit from clean solar energy while mitigating rising electricity costs,” commented Dr. Shawn Qu, the chairman of Canadian Solar said in a media statement.
This project provides clean electricity to off-takers from the education, healthcare, cement, and auto parts industries through 25-year PPA, in line with the Open Access regulations of Karnataka. Concurrent with this milestone, Canadian Solar has completed its financing of ₹1.0 billion ($16.0 million) for the C&I portfolio with Tata Cleantech Capital Limited.
IBC Solar has also completed 27 MW solar project near Kesinga in Odisha. It is a part of 270 MW PV tender floated by SECI in the state of Odisha in August 2016. Project financing was concluded with L&T Infrastructure Finance Company Limited in March 2017. According to Mercom’s India Solar Project Tracker, IBC Solar won the project by quoting VGF of ₹4.925 million (~$76,695)/MW, along with the fixed tariff of ₹4.43 (~$0.069)/kWh, under NSM Phase-II, Batch 4.
“With this project, we have consolidated a strong know-how in project development, land securitisation and grid connection in Odisha, a state with a high potential for solar PV build-up”, said José María Llopis, CEO of IBC Solar.
Image credit: IBC Solar
Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism & Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. More articles from Nitin Kabeer