Canadian Solar signs PPA for 80MW of solar projects in India’s Maharashtra

Facebook
Twitter
LinkedIn
Reddit
Email
Credit: Canadian Solar

Canadian Solar has signed 25-year power purchase agreements for an aggregate 80MW(ac) of solar power projects in the Indian state of Maharashtra with the Solar Energy Corporation of India (SECI).

Canadian Solar, which continues its downstream progress, was originally awarded the projects via a competitive auction for a total of 450MW(ac) capacity. The benchmark tariff was set at INR4.43/kWh (US$0.066) and the firm bid for viability gap funding (VGF) support of INR1.999 million/MW (US$30,379).

These projects are due to start operations by late 2017.

Shawn Qu, chairman and chief executive of Canadian Solar, said: “We are pleased to secure our first 80MW(ac) of solar power projects with SECI, a bankable and reputable off-taker operating under the Government of India. This investment adds to our India pipeline that stands at 110MW(ac) and represents a significant milestone for Canadian Solar in one of world's fastest growing renewables markets.”

India officially passed 10GW of solar installations last week, according to central government data.

Read Next

September 23, 2022
India’s government has approved the second round of the production-linked incentive (PLI) scheme to incentivise domestic solar PV module manufacturing.
September 22, 2022
EDP Renewables North America has started construction on a 240MW utility-scale solar PV project in Milam County, Texas.
September 22, 2022
Tech major Amazon has expanded its renewables portfolio globally with 71 new projects with a total capacity of 2.7GW.
September 20, 2022
Private equity firm KKR and Hero Group have invested US$450 million in Indian independent power producer (IPP) Hero Future Energies (HFE) to support its renewables expansion.
September 19, 2022
Canadian Solar has announced a target of 10GWh of battery manufacturing capacity by the end of 2023, up from 2.5GWh today.
September 15, 2022
US solar developer Pine Gate Renewables has signed power purchase agreements (PPAs) for 1GW of utility-scale solar PV in late-stage development in the US

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)