India set to launch 2.8 GW tender


The head of India‘s state-owned Solar Energy Corp. of India (SECI) this week reportedly announced the imminent arrival of a INR21 billion ($331 million), 2.8 GW solar tender across five states.

A report by the Bloomberg Business website on Monday, referring to an interview given by Ashvini Kumar – MD of the state-run company – in Delhi, revealed the development.

SECI, which is responsible for implementing the Jawaharlal Nehru National Solar Mission (JNNSM), will this month open the tender for 750 MW of solar capacity in Madhya Pradesh, 700 MW in Gujarat, 500 MW each in Karnataka and Tamil Nadu and 370 MW in Uttar Pradesh, with tendering set to be complete by March, according to the online report.

Dollar tendering

The Indian government recently announced plans to attempt to attract more foreign investment by tendering in dollars but solar consultancy Bridge to India told pv magazine that move is missing the point.

Vinay Rustagi, of Bridge to India, said there is appetite among foreign investors, who have little concern about the currency hedging costs associated with tendering in rupees.

Although tendering in dollars will ‘marginally' reduce hedging costs, said Rustagi, it will mean projects have to call upon 100 per cent foreign investment, which is unlikely.

The real risks for international financiers in India are policy and offtake risk, added Rustagi.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.