According to Bloomberg, Alex Green Energy has won the bid to develop a 5MW solar project in India’s eastern Odisha state. The company vouched to supply power at a record-low rate and, according to a statement from PK Mohan, CEO of Odisha Renewable Energy, has the option to develop the remaining 20MW of PV capacity from the solar auction before it is offered to other bidders.
Rules of the solar auction govern that Alex Green must complete the project by August 2013. The company bid pledges to sell power to the state-run utility at US$142/MWh, which is, according to Bloomberg, the lowest bid in India to date.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
Odisha Renewable Energy is awaiting approval from the state government to auction another 50MW of solar installations. The capacity will be offered in two batches of 25MW in the next few months.