US Schanti Partners plans 50-MW solar plant in India's Bihar - report
Aug 23, 2012 - US asset management firm Schanti Partners LLC intends to invest INR 5.8 billion (USD 105m/EUR 84m) in a 50-MW photovoltaic (PV) park in India's state of Bihar, the Economic Times reported on Thursday.
The firm has filed its proposal with the Bihar State Electricity Board (BSEB), with which it looks to sign a 25-year power purchase agreement to sell the output at a rate of INR 12.50 per kWh.
The plant will be built in five phases, with a 10-MW unit to be set up initially. Schanti Partners' subsidiary Sparkle Solar Bihar I will execute the project. US solar equipment maker Sol Focus Inc will supply the equipment.
The Bihar State Investment Promotion Board has already approved the project, while the Bihar Renewable Energy Development Agency (BREDA) has sent Schanti Partners a no-objection letter.