Developer stumps up fees for SunEdison's 500 MW India solar project


The Solar Energy Corporation of India (SECI) has received licensing fees in the amount of INR 2 billion ($30 million) from a power developer for the development of a 500 MW solar PV project formerly awarded to SunEdison.

According to a report by Bloomberg, the monies received this week mean that the license owner will now be greenlighted to develop the solar park in the state of Andhra Pradesh.

The rights for the project were originally won by now-bankrupt clean energy company SunEdison last November for a then-record low bid of INR 4.63 per kilowatt hour ($0.0706/kWh).

SECI MD Ashvini Kumar told Bloomberg: “We’re relieved that the project will get built and will contribute to the country’s solar targets,” adding that the completion date for the solar plant is scheduled for March next year.

Although unsubstantiated, it is believed that Indian power group Greenko Energies Pvt. is the new license holder.

Last month, Greenko paid around $390 million to secure Sunedison’s Indian power assets, which included both solar and wind projects and amount to a cumulative capacity of 390 MW. According to Fitch Ratings, the transaction agreement saw Greenko take over SunEdison’s pipeline of solar generation projects at no additional costs.

Prior to its bankruptcy, SunEdison had some 550 MW of clean energy projects under development in India, and a pipeline in excess of 1.7 GW.

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Your email address will not be published.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.