SunEdison is looking to expand its footprint in India, one of the fastest emerging solar power markets in the world. The company has recently announced plans to set up more than 5 GW of cumulative solar power capacity across two states in the country.
SunEdison won the right to develop 150 MW of solar power projects in India’s southern state of Karnataka, the company announced recently. The Karnataka Renewable Energy Development Limited had invited bids for 500 MW of solar power capacity. The fact that SunEdison has grabbed 30% of the capacity on offer points out that the company is aggressively pushing for expansion into India.
Only days ago the company had signed a landmark agreement with the government of Rajasthan to develop 5 GW of solar power capacity over the next five years. The capacity will be executed in blocks of 500 MW.
Karnataka is a fast-emerging market in India. The state government had allocated 260 MW of solar power capacity before the 500 MW auction. Earlier this year, a new target to add 2,000 MW of solar power capacity by 2022 was announced.
Some of the leading international and national solar power companies have bid in the three auctions prior to the 500 MW auction. The likes of Azure Power, ACME Solar, Astonfield, and Welspun Solar have been successful in winning rights to develop solar photovoltaic and solar thermal power projects.
Like Karnataka, several other southern states in India are looking to aggressively expand solar power infrastructure, as they gave the highest power shortage in the country and gas-based power plants have been sitting idle for years due to chronic fuel shortage.
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