Friday 7 December 2012

Indian state to auction 1GW of solar projects

The Indian state of Tamil Nadu has announced plans to auction 1GW of solar power capacity next month.

In a document released by the Tamil Nadu Generation and Distribution Corporation, it states developers can submit bids for 1MW or more by the first week of January. Those offering to sell solar power at the lowest rates will win.

The winners will sign 20-year sale contracts with Tamil Nadu Generation and will have 10 months to build the plant or else it will face penalties. The move is in a bid to help the state achieve its target of generating 3GW by 2015.

The state is also working on a nuclear project, which includes two reactors and is expected to be commissioned by the end of this month.