SkyPower Signs 200 MW Solar Power Purchase Agreement In India
A subsidiary of Canada-based SkyPower Global has cemented its biggest solar power win in India.
SkyPower Global recently reported that it had signed a power purchase agreement for 200 MW solar power capacity with the state government of Telangana. Last year, Mauritius-based SkyPower Southeast Asia Holdings secured rights to develop four solar power projects of 50 MW capacity each in the state.
State-owned utility Telangana State Southern Power Distribution Company Limited had floated a 2 GW solar power tender last year which attracted bids from 184 companies with cumulative capacity of over 4.6 GW. SkyPower emerged as bidder with the lowest tariff of Rs 5.17 (US¢7.9)/kWh.
SkyPower has built up a significantly large project pipeline in a short period of time. The company has secured 150 MW capacity through auctions in the state of Madhya Pradesh last year. Three projects of 50 MW capacity each were secured at tariffs ranging from Rs 5.051/kWh (7.95¢/kWh) to Rs 5.298/kWh (8.34¢/kWh). The power sale agreement was signed with the Madhya Pradesh Power Management Company Limited. Construction on these projects will start in 2016.
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