IBC Solar signs PPA with India’s SECI for 20MW solar plant in Odisha

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Credit: IBC Solar

Germany-based integrated PV and energy storage firm IBC Solar has signed a power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) for a 20MW(AC) solar project in the Indian state of Odisha.

This was part of the 270MW(AC) auction-based tender in the state 12 months ago. At the time, IBC won the project at a fixed tariff of INR4.43/kWh (US$0.067) combined with viability gap funding (VGF) of INR4.925 million (US$76,809). The project is due to be commissioned by late 2017.

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For the construction phase, IBC has also bagged INR980 million in debt financing with an 18-year term from L&T Infrastructure Finance.

21 May 2025
London, UK
The Renewables Procurement & Revenues Summit serves as the European platform for connecting renewable energy suppliers to the future of energy demand. This includes bringing together a community of European off-takers, renewable generators, utilities, asset owners, and financiers. The challenges ahead are complex, but through collaboration, innovation, and a shared vision, we can navigate uncertainties and forge a sustainable energy future. Let us harness our collective knowledge to advance the renewable energy agenda.

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