SunEdison to develop 150 MW of solar in India's Karnataka
Solar park in India built by SunEdison. Author: American Center Mumbai. License: Creative Commons, Attribution-NoDerivs 2.0 Generic
Oct 30, 2014 - US solar power company SunEdison Inc (NYSE:SUNE) said on Thursday it will develop 150 MW of photovoltaic (PV) projects in the Indian state of Karnataka.
SunEdison won the five PV projects through a tender for 500 MW of grid-connected solar held by Karnataka Renewable Energy Development Ltd (KREDL). The US firm received the largest share awarded to any of the 44 participants in the solar tender, it said.
SunEdison will own the schemes directly or through affiliates, including yieldcos. It will be selling the plants’ output to various entities through power purchase agreements (PPAs). The specific contracts could be signed in the next two to three months, said Pashupathy Gopalan, president of the company’s Asia Pacific operations.
Just a couple of days ago, SunEdison said it would install 5 GW of solar power capacity in Rajasthan under a memorandum of understanding (MoU) with the state government.