Orange Renewable – CleanTechies

SoftBank, SkyPower Global Eye Share In 1 GW Solar Power Park In India

written by saurabh

A number of Indian and foreign project developers are looking to set up projects under the planned 1 GW solar power park in the Indian state of Odisha.

According to media reports, interested developers include SoftBank-led SB Energy and Canada-based SkyPower Global. Among the Indian developers looking to set up projects are Azure Power, Panchvaktra Holdings, Orange Renewable and Shapoorji Pallonji.

Last year, the government of Odisha has announced plans to set up 1 GW solar power park spread over 5,000 acres of land. The state would acquire 20% of the electricity generated while the developers shall be free to sell the balance in open market, perhaps one of the reasons for such great interest shown by these companies.

Under the public partnership model, Green Energy Development Corporation of Odisha Ltd (GEDCOL), a 100 per cent subsidiary of Odisha Hydro Power Corporation would be the nodal agency for implementation of the solar park. GEDCOL would partner with Solar Energy Corporation of India (SECI) for development of this park.

Auction of projects that will form part of the solar power park will likely by conducted by the Solar Energy Corporation of India (SECI) which also recently auctioned 270 MW solar power capacity in the state.

09/24/2016 0 comment

Renewable Energy

Orange Renewable Signs PPA For 100 MW Solar PV Project In India

written by saurabh

A renewable energy independent power producer, Orange Renewable, has signed a power purchase agreement to sell power from a large solar power project in Maharashtra.

Subsidiary of Singapore-based AT Holdings, Orange Renewable, has signed a power purchase agreement with the Solar Energy Corporation of India (SECI) for 100 MW solar PV project. The company had won rights to develop the project during a competitive auction held earlier this year.
The auction was organised by SECI for setting up 450 MW solar power park in the state of Maharashtra. Projects were offered under the viability gap funding mode with fixed tariff of Rs 4.43/kWh (US¢6.6/kWh). Developers were supposed to bid for the lowest capital cost support needed to set up the projects.

Interestingly, one of the bidders placed a bid of no capital cost support and even offered to develop a 30 MW project at lower tariff of Rs 4.41/kWh. Orange Renewable placed a bid of financial support of US$68,816 per MW to implement 100 MW project at the fixed tariff of Rs 4.43/kWh. Another major renewable energy IPP Welspun Renewables Energy also secured 100 MW with capital cost support of US$80,410 per MW.

Orange Renewable winning the bid for a solar power project is continuation of a recent trend in India which has seen wind energy projects developers entering the solar power market. Solar power enjoys comparatively stronger regulatory support. And a number of important financial incentives for wind energy sector are set to expire at the end of this financial year.

04/23/2016 0 comment