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Hydropower supplier wins 200 MW PV tender in India with $0.041/kWh bid

From pv magazine India

SJVN Limited, a state-owned hydropower producer in India, has emerged as the winner of a 200 MW solar auction by the Bihar Renewable Energy Development Agency (BREDA).

The company, which is a joint venture of the Indian government and the Himachal Pradesh state government, secured the project by quoting the lowest tariff of INR 3.11/kWh ($0.041/kWh) to develop the capacity on a build-own-operate (BOO) basis. 

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Construction costs for the PV project have been estimated at INR 1,000 crore ($135 million). BREDA has agreed to sign a 25-year power purchase agreement with SJVN to purchase the electricity. 

“These projects will help SJVN in achieving its ambitious shared vision of 5,000 MW by 2023, 12,000 MW by 2030, and 25,000 MW by 2040 and simultaneously contribute toward (the renewable energy) capacity addition target of 175 GW by 2022 set by the government of India,” said SJVN.

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Source: pv magazine