SunEdison Inc., the world’s biggest developer of renewable energy power plants, won all 500 MW of solar
capacity offered through a government auction in the southern Indian
state of Andhra Pradesh, said Tarun Kapoor, an official at the ministry
of new and renewable energy. The Maryland Heights, Mo.-based company won with a bid of 4.63 rupees
a kWh, the lowest tariff offered in an Indian solar auction, according
to the ministry official.
SunEdison didn’t immediately respond to
e-mails seeking comment on its bid, which was 8 percent lower than any
other offered in a previous auction. SoftBank Group Corp. of Japan and Chinese solar products maker Trina Solar Ltd. also participated in the auction, a first for the two companies.
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. The low bids have raised concerns, with some analysts and investors
citing the possibility that projects won’t get built at such aggressive
pricing.
Energy Targets
"We could see a repeat of what happened in thermal power and the
roads sector, where people took aggressive business calls, which was not
good for the country in the end," Rupesh Agarwal, a partner at BDO
India LLP, said. Others say low tariffs are good for distribution companies, the
government’s clean energy target and the sentiment around India’s solar
industry. India aims to install 100 gigawatts of solar capacity by 2022, up from about 4 gigawatts at the moment.
©2015 Bloomberg News
http://www.renewableenergyworld.com/articles/2015/11/sunedison-wins-500mw-india-solar-project-with-record-low-tariffs.html
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