First Solar commences first India operation in Telangana
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Hyderabad: First Solar Inc., a US-based photovoltaic cell maker, on Thursday said it has started commercial operation of its first Indian project in Telangana.
The 20MW photovoltaic project at Marikal village in Mahbubnagar district of Telangana is part of the solar module manufacturer’s plans to build 200 MW project portfolio in India. The plant has been connected to Telangana grid.
“The project will not only increase India’s clean energy output, but also supports the penetration of solar energy in the generation mix in the country,” Sujoy Ghosh, country head for First Solar in India said in a statement.
The company has inked a 20-year power purchase agreement to sell power to Southern Power Distribution Corporation of Telangana, the power utility of the country’s newest state. It will sell power at a tariff of Rs.6.49/kilowatt-hour.
The company last August said it plans to set up two solar power plants generating a total of 45 MW in Telangana.
India has emerged as a hot destination for solar energy companies with the Union government revising plans to generate 100GW solar energy by 2022, a five-fold increase over an earlier target.
This is generating investor interest. Japan’s SoftBank Corp on Monday said it was partnering with Bharti Enterprises Ltd. and Foxconn Technology Group to invest $20 billion in solar energy projects in India.
In June, US-based SunEdison Inc. said it will invest $15 billion to produce 15 GW solar and wind power energy in India by 2022. The company on Tuesday commissioned a 1 MW canal-top solar power project on the banks of Krishna river in Karnataka. SunEdison is also investing $2 billion to make equipment for solar power plants in collaboration with Adani Group.