A joint venture of Softbank, Foxconn Technologies and Bharti Enterprises has announced that it commissioned world’s seventh largest solar power project in India.
SB Energy recently announced that it commissioned a 350 megawatts solar power project in the Indian state of Andhra Pradesh. The project was completed 51 days ahead of its scheduled commissioning date.
The power project is expected to generate enough electricity to meet the demands of more than 700,000 Indian households.
SB Energy was the sole winner of the 350 megawatts solar power tender launched by India’s largest power generation company NTPC Limited for a solar power park in Kurnool district of Andhra Pradesh. The auction took place in December 2015 and was awarded to SB Energy at a tariff of Rs 4.63/kWh (7.12$/kWh), the lowest in India at that time.
SB Energy plans $20 billion investment in India’s solar power market to developer at least 20 GW capacity. The company had recently signed an agreement with the government of Andhra Pradesh to set up 2 GW solar power and 1 GW wind energy capacity.
The company has also expressed desire to set up a 1,000 megawatt solar power park in the state of Odisha.