The subsidy free mega project is entering the next stage of its development. Funding is expected to be finalized in 4Q 2018 and commissioning in 2020. The project, funded by the European Fund for Strategic Investments (EFSI) will retail its electricity on the spot market, but will be secured through a financial hedge.
The state’s second attempt to tender for 500 MW of capacity has made a mockery of predictions of rising PV electricity prices and exonerated utility for cancelling previous procurement round. But the absence of India’s cheapest solar energy generator from the latest exercise could be telling.
The company’s renewable energy unit EDPR will sell power to an unnamed client from a solar plant to be located in Ferreira Barreto, in the Brazilian state of Sao Paulo. The Portuguese utility and wind power specialist began making investments in solar in recent times.
The site is the first to be constructed after last year’s exercise. A total of 3.9 GW was awarded, signaling a comeback for the Spanish solar market. The president of Spain’s solar association says there is 21 GW potential projects waiting to compete in future tenders.
Strong local content requirements may be embedded in the tender, according to the first draft of its rules, with selected projects required to rely on a 60% quota of modules made in Turkey. A 30 MW/ 90 MWh (AC) storage project will also be included at one of the three sites identified for the tender.
Around 40 billion kWh of clean electricity will be generated by PV systems in Germany during the first nine months of the year. According to calculations by the German Solar Industry Association, the total generation figure from last year will soon be reached.
The International Financial Corporation will help the country’s government competitively tender the project, which is expected to be developed through a public-private partnership.
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