The Solar Energy Corporation of India, along with the government of Karnataka, took a major step towards the off take of the monumental amount of solar power apprehended to come online soon in India.
By Baishakhi Dutta
Five power distribution utilities in the southern state of Karnataka recently signed an agreement with the Solar Energy Corporation of India (SECI) to acquire 1 GW of solar energy from a solar park currently under development.
The utilities will purchase electricity from SECI at Rs 4.50/kWh for a period of 25 years. The solar electricity is expected to be generated at the Pavagada solar park. An auction for individual projects to be set up at the park has already started.
Projects at the 2 GW solar park will be auctioned in units of 50 MW each. NTPC Limited, a state-owned power generation company, and SECI will hold auctions for these projects.
Solar Energy Corporation of India (SECI) will also auction 400 MW of capacity for the solar park. This capacity will be allocated under the Viability Gap Funding scheme wherein developers will bid for capital cost support needed and sell power at a fixed tariff of Rs 4.43/kWh.
