UPDATED: Winning bids in a 550MW solar auction in Uttar Pradesh, India, have come out between INR 3.02-3.08/kWh (US$0.0429-0.0437), a notable drop from 3.17-3.23 rupees in its most recent 500MW auction in October.
Indian solar developer Avaada Power has further staked its claim in the Indian PV market by signing a memorandum of understanding (MoU) with the Andhra Pradesh government to develop 500MW of utility-scale PV projects with a INR35 billion (US$537 million) investment.
Indian renewable energy project developer Avaada Power has signed a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh to invest US$1.55 billion for the development of 1.6GW of solar projects in the state.
India solar prices have continued their downward spiral, this time with record low bids of INR2.62/kWh (US$~0.04) from Phelan Energy Group and Avaada Power in the state of Rajasthan.
