Just two days after announcing plans to develop 5 GW of mega-solar projects in the Indian state of Rajasthan, SunEdison on Thursday said it had won five solar PV projects totaling 150 MW from the state-run Karnataka Renewable Energy Development Limited (KREDL).
SunEdison said it or its affiliates, including yieldcos, were envisioned as the ultimate owners of the projects. The company plans to sell the electricity generated to various entities via power purchase agreements (PPAs).
"This is yet another milestone in the journey of SunEdison in India to build a strong pipeline of projects that will be developed and commissioned in the coming years," said Pashupathy Gopalan, president Asia Pacific Operations, adding that the PPAs are likely to be signed in the next two to three months.
While 44 developers responded to KREDL’s tender for 500 MW of grid-connected solar power plants, SunEdison’s 150 MW represents the largest share awarded to any single company. Following SunEdison’s recent announcement of a Memorandum of Understanding (MOU) for 5 GW with the Rajasthan government, the companys latest winning bid further solidifies its leading position in India’s rapidly growing solar market.
SunEdison appears to be on a major hotstreak across the globe. This month alone the company and media have reported, in addition to the 5 MW deal in Rajasthan, a number of high-profile developments, including:
- A reported $220 million financing deal in China to develop, construct and own up to 1 GW of utility-scale solar PV projects over the next three years
- Possible plans to invest up to $2 billion in a polysilicon factory in China with an unnamed local investor
- A winning bid to develop 17.7 MW of distributed solar PV projects in Northern California
- And, most recently, the closure of $130 million in debt financing for its 69.5 MW PV power plant in Chile.