India to auction solar project to double its capacity

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India may auction a third of the solar projects planned by 2017 in the current financial year to double the nation’s sun powered capacity as it seeks additional clean energy investments to combat power shortages, says a report.

Of the 3,000 MW of solar plants proposed to be built starting in 2013, contracts for “1,000 megawatts or a little less” may be tendered in the first batch, Tarun Kapoor, joint secretary at the Ministry of New and Renewable Energy, reportedly  said.

The plan provides some guidance to solar utilities and manufacturers, which have said India must demonstrate a reliable pipeline of projects to draw the investment needed to meet its targets. India is aiming for 20,000 megawatts of solar power by 2022 and most of the country’s existing capacity of 1,040 megawatts was built in the past year.

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