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.
India-based independent solar power producer Azure Power Global reported new contract wins totalling 581MW in its fiscal second quarter of 2018, while revenue dropped and losses spiked, due to the issue of India’s first green bond in the quarter.
Major Indian solar developer Azure Power has won a 1.3MW rooftop solar project from an NTPC subsidiary to provide power for 25 years to both Government of India and Ministry of Health and Family Welfare facilities in the states and union territories of Delhi, Puducherry, Uttar Pradesh, West Bengal and Assam.