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See fierce competition for new solar tenders in Indian market: Bridge to India

According to reports, first round of bids were submitted for Solar Energy Corporation of India’s (SECI’s) 750 MW tender in Bhadla Solar Park, Rajasthan last week. A total of 33 developers are believed to have submitted bids for an aggregate capacity of 8,750 MW – an oversubscription of almost 12 times. Coming in the wake of intensely competitive bidding in Rewa and Kadappa tenders, the signs are that competition for new projects is getting fiercer, particularly as the supply of ... Read More »

India’s solar power capacity addition to remain strong at 7,500 Mw in current fiscal: ICRA

According to reports,  India’s solar power capacity addition would remain strong in a range between 7,000 Megawatt (Mw) and 7,500 Mw on the back of a huge portfolio of projects awarded recently, research and ratings agency ICRA has said. “While currently there is a temporary lull in the announcement of fresh bids, the magnitude of solar project awards in the past 12-18 months has been quite significant. The backlog against these awards itself would support a solar capacity addition of ... Read More »

The unintended consequences of low solar tariffs

According to reports, India’s race to the bottom for solar power prices has resulted in some unintended consequences. These range from some electricity distribution companies (discoms) wavering on signing power purchase agreements for projects awarded at higher tariffs to postponement of some tenders, according to consulting firm Bridge to India. The latest milestone was the new record low tariff of Rs3.15 per kilowatt hour (kWh) quoted by France’s Solairedirect SA at the auction of a project in Andhra Pradesh on ... Read More »

Solar energy to power Delhi Metro’s Phase III

According to reports, Delhi Metro’s Phase III is likely to be fully powered by solar energy.  Last week, Delhi Metro signed a purchase agreement for 25 years with Rewa Ultra Mega Solar Limited, a joint venture between Solar Energy Corporation of India and the Madhya Pradesh government.  Under this agreement, Delhi Metro will source 345 MUs annually from this project, “Effectively, the entire energy requirement of phase III of Delhi Metro project,” said a statement by the Delhi Metro Rail Corporation (DMRC). ... Read More »

MP govt to provide subsidised solar water pumps to farmers

According to reports, the Madhya Pradesh government would soon provide nearly 18,500 solar-powered water pumps to farmers in the state at subsidised rates. “We are going to make available solar borewell and surface pumps fitted with remote monitoring system to the farmers under the Madhya Pradesh Chief Minister Solar Pump Scheme shortly,” New and Renewable Energy Department Principal Secretary Manu Srivastava told PTI. “The rates of solar pumps already arrived at after the bidding are the lowest in the country. ... Read More »

Solar power tariff in Tamil Nadu set to fall below Rs 4 per unit

According to reports,  Solar power tariffin Tamil Nadu is set to fall below Rs 4 per unit. Tangedco will float tenders for 1500MW in the coming days and fix the the base tariff at Rs 4 per unit with the approval of the Tamil Nadu Electricity Regulatory Commissioner (TNERC). The power utility will present a proposal to TNERC for floating tenders. Based on previous tenders, when the final tariff has always been lower than the base tariff, this time too ... Read More »

Solar power presents huge refinancing opportunity: India Ratings

According to reports, India Ratings and Research (Ind-Ra) estimates a possible refinancing opportunity for more than Rs 56000 crore out of the total debt of Rs 1.73 lakh crore across various infra sub-sectors in its portfolio till FY19. Of this, solar is expected to be in the forefront in terms of the number of deals with refinancing to the tune of 33%, followed by 27% in the highway sector. Also, there could be a shift in the type of instruments issued ... Read More »

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