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In a short span of two years, SoftBank-backed SB Energy has emerged as one of the leading solar power developers in India. SB Energy has made significant inroads into the rapidly growing solar power market in India through expansive and aggressive participation in competitive auctions.

Clean Power

SoftBank Scores 950 Megawatts Of Solar In India In 2 Years

In a short span of two years, SoftBank-backed SB Energy has emerged as one of the leading solar power developers in India. SB Energy has made significant inroads into the rapidly growing solar power market in India through expansive and aggressive participation in competitive auctions.

In a short span of two years, SoftBank-backed SB Energy has emerged as one of the leading solar power developers in India. SB Energy has made significant inroads into the rapidly growing solar power market in India through expansive and aggressive participation in competitive auctions.

Two years ago, SB Energy secured the rights to develop one of India’s largest solar power projects to be commissioned by a single developer. The project of 350 megawatts (AC) capacity is located at the Kurnool solar power park in the state of Andhra Pradesh. The solar park, expected to have an eventual installed capacity of 1 gigawatt (AC), is owned by NTPC Limited, India’s largest power generation company. The project was secured at Rs 4.63/kWh (¢7.12/kWh), the lowest solar power tariff in India at that time. 

SB Energy participated in several competitive auctions between December 2015 and April 2017, but did not manage to secure any projects. In May 2017, however, SB Energy once again led nearly all Indian as well as foreign project developers to quote the lowest-ever solar power tariff in India’s history.

The company won the rights to develop 400 megawatts (AC) of capacity in two back-to-back auctions for 750 megawatts of capacity at the Bhadla solar power park in May 2017. A 100 megawatt (AC) capacity was secured at Rs 2.63/kWh (¢4.1/kWh), a record at that time, while a 300 megawatt (AC) capacity was secured at Rs 2.45/kWh (¢3.8/kWh), nearly tied to the current lowest solar power tariff in the country.

The executive chairman of SB Energy, Manoj Kohli, had to justify the aggressive bidding strategy adopted by his company that led to solar power prices being cheaper than 92% of India’s thermal power plants.

Two more auctions of a total of 750 megawatts of capacity at the Bhadla solar power park were recently organized by the Solar Energy Corporation of India. SB Energy managed to secure 200 megawatts (AC) of capacity in the auction at Rs 2.48/kWh (¢3.81/kWh).

With this win, SB Energy has increased its portfolio to 950 megawatts (AC). The company has a very long way to go to achieve its target to set up 20 gigawatts of solar power capacity in India at an investment of $20 billion.

SB Energy is a joint venture between Japan’s SoftBank, Taiwan’s Foxconn Technology, and India’s Bharti Enterprises.

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

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