SunEdison Wins 500 MW Solar PV Bid In India At Record-Breaking Tariff

SunEdison Wins 500 MW Solar PV Bid In India At Record-Breaking Tariff

SunEdison Wins 500 MW Solar PV Bid In India At Record-Breaking Tariff

The lowest bid for solar PV project in India now belongs to SunEdison. The company participated in a 500 MW auction under the revamped National Solar Mission. While a number of companies participated in the auction, SunEdison secured the entire 500 MW capacity. The company placed a bid of Rs 4.63/kWh (US¢7.12/kWh).

For the first time in India, a company secured a winning bid of lower than Rs 5.00/kWh (US¢7.7/kWh). In fact, as many as 10 companies quoted a bid below Rs 5.00/kWh while a total of 15 companies placed bids below Rs 5.50/kWh (US¢8.5/kWh).

For the first time in India, a company secured a winning bid of lower than Rs 5.00/kWh (US¢7.7/kWh). In fact, as many as 10 companies quoted a bid below Rs 5.00/kWh while a total of 15 companies placed bids below Rs 5.50/kWh (US¢8.5/kWh).

The 500 MW auction was oversubscribed 10.5 times. A total of 30 prospective project developers submitted bids for a total of 5.5 GW capacity. Some of the foreign developers were among the first-time participants in an India solar power auction. These included companies like Trina Solar and SBG Cleantech (a joint venture company between SoftBank, Foxconn, and Bharti Enterprises).

Other major participants included SkyPower, ACME Solar, Aditya Birla, Essel Energy, Tata Power, Azure Power, Welspun Energy, Hero Future Energies, ReNew Power, and Suzlon Energy.

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