SunEdison Nabs All 500 MW in India Solar Auction
Maryland-based SunEdison Inc. was the big winner earlier this month in a 500-MW solar auction in the southern Indian state of Andhra Pradesh, walking away with the entire offer with a record-low price of 4.63 rupees (US6.9¢) per kilowatt/hour.
“Previously, SkyPower Ltd. of Toronto won 150 MW of solar capacity in July by quoting a tariff of 5.05 rupees per kWh, the lowest tariff at the time,” Bloomberg reports. “The low bids have raised concerns, with some analysts and investors citing the possibility that projects won’t get built at such aggressive pricing.”
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Other observers “say low tariffs are good for distribution companies, the government’s clean energy target, and the sentiment around India’s solar industry.”
India has set out to increase its installed solar capacity from 4 GW today to 100 GW by 2022.