PV developer SkyPower has entered into a power purchase agreement (PPA) with the government of Madhya Pradesh to develop 150MW solar power projects in the Indian state.
In July SkyPower won three 50MW projects in the Madhya Pradesh state solar auction, with one of the projects going for a record low price of INR5.05 (US$0.08) per kWh.
Sanjay Kumar Shukla, managing director, M.P. Power Management Company (MPPMCL), said: “Renewable energy is a big focus for the state of Madhya Pradesh and signing this PPA with SkyPower highlights our commitment.”
However, consultancy firm Bridge to India reported in August that the state has been reluctant to sign PPAs with some of the winning bidders, who put in higher prices, such as Hero Future Energirs and Renew Power. At the time SkyPower had received letters of interest (LOI) from the state, while other winning companies had not.
Kerry Adler, SkyPower president and chief executive, said: “SkyPower is committed to making a powerful contribution to India's goal of generating 100GW of solar power by 2022. India is leading the world in deploying solar, not only with its significant targets but by its very actions, and the people of Madhya Pradesh will benefit from clean, reliable and affordable energy as a result of the vision and leadership of this great state.”