SB Energy bags NTPC solar project in AP
NEW DELHI: SB Energy, a jointventure between Japan’s Softbank Group Corp, Sunil Mittal-led Bharti Enterprises Ltd, and Taiwan-based Foxconn Technology Group, on Tuesday bagged its first solar project in India since June, when it had pledged a $20-billion investment in the country’s fledgling solar sector.
SB Energy won a 350-MW solar power project in Andhra Pradesh at a tariff of ₹4.63 per unit, the auction for which ended late on Monday. This matches the lowest solar tariff quoted last month by Us-based Sunedison Inc, which won a 500-MW contract, also in Andhra Pradesh SB Energy had
Both these projects come under the Jawaharlal Nehru National Solar Mission, and have been bid out by state-owned NTPC Ltd.
This followed a July solar auction by Madhya Pradesh, in which the lowest tariff touched ₹5 05 per unit ket-leading renewable energy company, to fuel India’s growth with clean, reliable and affordable sources of energy. I am glad that we could open our account today with this win,” the company quoted its president and COO Nikesh Arora in a release installed solar capacity of 4,579 MW, has an ambitious target of raising the same to 100,000 MW by 2022.
Solar tariffs have been steadily coming down in the last year-and-a-half. In September, HT reported that ever since the Narendra Modi government took office in May 2014, foreign and domestic investment inflows into the renewable energy sector via the venture capital (VC) and private equity (PE) and the merger and acquisition (M&A) routes have seen a sharp uptake.
Industry data shows in 2013 VCS and PES had invested $207 million and $214 million respectively, mostly in solar and wind companies, the figure had reached $455 million in the first