Phelan reaches financial close on 50MW India solar project

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

Dublin-based clean energy firm Phelan Energy Group has secured financial close on a 50MW solar PV project in Bhadla, Rajasthan, India.

The project is currently under construction, with Indian firm Tata acting as EPC contractor.

Phelan won the project in May 2017 for the Bhadla Phase-IV Solar Park in Rajasthan with a tariff of INR2.62/kWh, one of the lowest ever solar bids at the time. The auction was organized by the Solar Energy Corporation of India (SECI).

“The Phelan vision is to continue to achieve the lowest cost of solar energy in the world. We are extremely focused on the cutting-edge Technology, efficient design and project management, together with a proprietary cost to power financial model, whilst at the same time delivering high quality long-term plant performance,” said Phelan Energy chairman, Paschal Phelan.

He added that Phelan sees India as a steady growth market for the years to come. 

However Bridge to India recently forecast wind and solar in India to drop 49% in 2018/19.

Read Next

PV Tech Premium
April 8, 2021
After a challenging year, India’s solar sector stands primed for something of a rebound. But a host of familiar issues, from the perilous state of DISCOMs to regulatory uncertainty, run the risk of stymying future growth. Vinay Rustagi, managing director at consultancy Bridge to India, talks to PV Tech about the future prospects for Indian solar.
April 8, 2021
Tata Power Solar has expanded its PV manufacturing facility in Bengaluru, India, taking the total production capacity of modules and cells to 1.1GW.
April 1, 2021
Norwegian independent power producer Scatec is looking to collaborate with project developers in India as part of efforts to gain a foothold in the country’s burgeoning solar sector.
PV Tech Premium
March 26, 2021
Solar developers have welcomed clarification on India’s new import duties for modules and cells that will come into effect next year, but questions have been raised about the ability of domestic manufacturers to ramp up production to meet rising demand.
March 23, 2021
Scatec has unveiled a NOK 100 billion (US$11.7 billion) plan that will see the company expand its renewables portfolio to 15GW over the next four years.
March 19, 2021
Indian PV developer Adani Green Energy has raised a US$1.35 billion debt package to initially support the construction of a 1.69GW hybrid portfolio of solar and wind projects in the state of Rajasthan.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET