Solar Energy Corporation of India's (SECI) 10GW solar tender combined with 3GW of manufacturing has once again received a poor response from the industry with only local developer Azure Power submitting a bid.
Indian solar developer Azure Power has had a hugely successful period of raising financing, but consultancy firm Bridge to India has said that the overall domestic PV sector is facing hard times in raising debt finance.
The lowest bid quoted in Indian state-run utility NTPC’s auction for 2GW of interstate transmission system (ISTS)-connected solar was INR2.59/kWh (US$0.037), a 14 paisa rise from the L1 tariff in the most recent 2GW PV auction in India.
Indian solar developer Azure Power has secured US$135 million in debt financing for 200MW of rooftop PV projects across India from a consortium of development finance institutions.
Indian solar developer Azure Power has surpassed 1GW of operating solar capacity, with the completion of a 50MW project in the state of Andhra Pradesh.
India-based solar independent power producer Azure Power has secured new project wins with Indian Railways and Karnataka Renewable Energy Development totalling 130MW.
