27 Jan '14, 3pm

Asia Report: India's Vastly Oversubscribed Solar Allocations

Asia Report: India's Vastly Oversubscribed Solar Allocations

Demand was as heated as expected : 58 bids were received pledging to develop more than 2.1 GW of solar energy capacity, nearly triple the 750-MW that state-run Solar Energy Corp. of India (SECI) was offering. Here's the full list of eager developers , which includes Azure Power India (200 MW), Welspun Energy (160 MW), Goldman Sachs-backed local developer ReNew Solar Power (50 MW), First Solar (30 MW), and a handful of state-run utilities. Part of the spur behind the activity was the government's promises to cover as much as 30 percent of project costs; part of the delay was the adjustment of payout period from one year to five years. And perhaps part of the huge interest was the delay of the auction to help clarify some of its structure and sooth investor and developer concerns. More than half of the bids (36 bids for 700 MW) proposed to take advantage of the domestic cont...

Full article: http://www.renewableenergyworld.com/rea/news/article/2014...

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