HFE will install 38 MW of solar PV projects in Madhya Pradesh, having won the contracts under the Indian states 300 MW auction, announced this year. "The difference in the tariff quoted by HFE in this bid and the lowest tariff is approximately INR 0.59," said HFE in a statement released.
The company has also been awarded rooftop projects across five Indian states Haryana, Punjab, Tamilnadu, Maharashtra and Karnataka under the Solar Energy Corporation of Indias (SECIs) rooftop solar scheme. "This win will take us closer to our target of becoming one of the leading rooftop players in the country," continued HFE.
SECI is tasked with implementing large-scale, grid connected PV rooftop plants supported by a 30% subsidy from the National Clean Energy Fund (NCEF). Currently, three project phases have seen around 19 MW installed across 16 Indian cities. Phase four is underway, with over 14 MW already having been installed.
Across the country, around 350 MW of rooftop PV has been installed to date under various schemes. According to Bridge to India, by 2019, this figure will reach around 4 GW. Of this, the consultancy firm sees 50% of demand coming from industrial consumers, 30% from residential consumers and 20% from commercial consumers.
Rooftop solar in India is said to be becoming increasingly competitive, with grid parity for commercial and industrial consumers already having been reached in 12 states. To date, grid parity has not been reached anywhere in India for residential consumers.