SkyPower Gets 200 MW Solar Project Contract In India

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Originally published on Sustainnovate.

SkyPower Signs 200 MW Solar Power Sale Agreement In India

Canada-based and one of the leading solar power project developer in the world, SkyPower Global has announced progress on one of the cheapest solar power projects in India.

The company, in a recent press release, stated that it signed a power purchase agreement for 200 MW solar power capacity with a utility in the Indian state of Telangana. A subsidiary of SkyPower Global had secured the capacity following a fierce auction last year.

A Telangana-based utility had floated tender for 2 GW solar power capacity last year. The tender attracted huge interest from foreign as well as Indian project developers, with bidders submitting proposals to set up 4.6 GW capacity.

SkyPower Southeast Asia Holdings quoted the lowest tariff among all bidders and secured rights to develop 4 solar power projects of 50 MW capacity each. The tariff of Rs 5.17/kWh (US¢7.9/kWh) was at that time was the lowest tariff ever quoted in India for a solar power project.

With this 200 MW capacity, SkyPower Global has managed to increase its India pipeline to 350 MW. The company is also working on 150 MW solar power capacity in the state of Madhya Pradesh. This capacity was secured at an even lower tariff of Rs 5.05/kWh (US¢7.4/kWh).

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