French developer SolaireDirect, now owned by renewbales firm ENGIE, has won a 75MW solar project in the Indian state of Uttar Pradesh quoting viability gap funding (VGF) of INR7.435 million/MW (US$110,527).
The Solar Energy Corporation of India (SECI) tendered the project, having already awarded a 50MW project in Allahabad, Uttar pradesh, to Indian conglomerate RattanIndia Power earlier this week with VGF quoted at INR7.499 million/MW.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
In that first tender, SolaireDirect narrowly missed out from winning the capacity having quoted VGF of INR7.5 million/MW.
SECI used a reverse auction process under India’s National Solar Mission to award these projects with a set tariff INR4.43/kWh (US$0.066) alongside VGF, which is a funding mechanism provided by the government of India.
Jasmeet Khurana, associate director at Bridge to India, said that SECI is allocating a total of 440MW in Uttar Pradesh and this is divided into seven different bids. Results for two of these have already been announced and five bids are yet to take place.
