Wednesday, February 26, 2014: Reportedly, various investors have pushed together Rs 50 billion of capital for the development of solar power projects in India. The capital can support a total strength of up to 750 MW in the second phase of the Jawaharlal Nehru National Solar Mission (JNNSM). The average bid amount, in the domestic content was Rs 21.3 million per unit, and Rs 10.6 million per unit in open category, however, the proposed government funding is now, Rs 25 million per unit.
The JNNSM programme received bids of up to 2,170 MW, which is three times the proposed government requisite. The bids were from 53 companies that include state power utilities, global renewable energy companies and new ventures with international funding, as well.
The Solar Energy Corporation of India (SECI) is the executing body for JNNSM phase2, under the ministry of new and renewable energy (MNRE). SECI invited project developers to set up solar power projects under PPP mode with government support through viability gap funding (vgf) for a solar tariff of Rs 5.50 per unit, said an ET report.
The Azure Power has bid the highest for 200 MW of capacity (60 MW in domestic). With companies like SunEdison got approval from the government two 50 MW each were approved under the domestic and open category, Welspun Energy got 160 MW, with IL&FS and Essel Infra each got 100 MW approvals. Hero Solar Energies also bid for 50 MW, and Swelect Energy Systems bid for Rs 13.6 million per MW of open category project cost. The Gujarat Power Corporation was the lowest bidder with Rs 170,000 per unit of project cost for developing a 30 MW solar power plant under the domestic content category, reported ET.
US major First Solar won the bid for 30 MW solar power project with imported content, France based Solairedirect group bid for 30 MW project at Rs 5.50 per unit. Tata won 40 MW solar projects and Mahindra won projects worth 30 MW.
