Canadian PV company SkyPower is searching for partners for its projects in India and will begin constructing them in Autumn 2016, according to Reuters.
SkyPower chief executive Kerry Adler said that the company was planning on expanding its base and activities in seven states, while also denying a report that stated that SkyPower could be leaving India.
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“We do plan to announce in the days ahead the award of the engineering, procurement, construction (EPC) contracts for seven projects in India and are excited to commence construction of these projects we successfully won in the fall of this year,” Adler told Reuters.
SkyPower was recently reported to be looking to offload equity in its 150MW Madhya Pradesh PV project, which it won in July with one 50MW plant at a record low price of INR5.05/kWh (US$0.076).
Adler’s claim that SkyPower is staying put in India will be welcome news to the Indian solar sector, which may be having trouble closing finance for projects with low tariffs and has anxiously followed SunEdison’s recent financial woes, which threatened a large solar plant in Southern India.
While power purchase agreement (PPA) signings in Indian states such as Telangana were facing severe delays at the end of 2015, SkyPower announced in February 2016 that it had signed off on PPAs for four PV projects totaling 200MW combined in Telangana.