Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

SkyPower Signs 150 MW Solar Power Sale Agreement In India

Originally published on Solar Love.

SkyPower, one of the leading renewable energy project developers globally, has signed a power sale agreement for the projects it had secured in a competitive auction held June 2015.

SkyPower, through a subsidiary–Mauritius-based SkyPower Southeast Asia Holdings–secured rights to develop 3 projects of 50 MW capacity each 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.

One of those 3 bids remains the lowest-ever bid in India. The bid placed by SkyPower is 28% lower than the tariff determined by the Central Electricity Regulatory Commission (CERC) for the current financial year. The CERC has determined a tariff of Rs 7.04/kWh as a financially viable rate for solar PV projects.

The projects are likely to be commissioned together at a single site, and the overall project would be one of the largest solar power projects in the state developed by a single developer. Welspun Energy currently operates 151 MW (DC) of solar power projects in the state.

Several international companies are working to set up projects in Madhya Pradesh. The June auction saw participation from global leaders like SunEdison and First Solar. SunEdison is setting up a large-scale solar power project, outside the ambit of auctions, in Madhya Pradesh. Earlier this year, SunEdison signed a power sale agreement with Tata Power Delhi Distribution Limited, a Delhi-based utility. The agreement is for 180 MW capacity for 20 years.

SkyPower has set a target to add 9.9 GW solar power capacity in India over the next 5–7 years. The company plans to soon announce the launch of its India Solar Fund, which will provide a platform for investors, partners, and stakeholders to invest alongside SkyPower and participate with SkyPower as it grows throughout India.

 
 
 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

An avid follower of latest developments in the Indian renewable energy sector.

Comments

You May Also Like

Clean Power

Welcome to another issue of our India x Cleantech series! On a monthly basis, we are pulling news from across clean technology sectors in...

Clean Power

Private equity investment firm KKR has announced plans to acquire a stake in a budding renewable energy platform in India.  The firm will reportedly...

Batteries

  In Delhi, India, Gogoro Inc. and Zypp Electric have announced a strategic B2B initiative and partnership that will accelerate the urban shift of...

Clean Transport

While European, East Asian, and American EVs get a lot of attention, we have to remember that there’s a wider world out there, and...

Copyright © 2022 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.