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International Finance Corporation

750 Megawatts Solar Tender In India Draws Bids For 7,500 Megawatts

750 Megawatts Solar Tender In India Draws Bids For 7,500 Megawatts

written by saurabh

One of the recent solar power auctions in India has received a massive response from project developers.

The Rewa solar power park tender of 750 megawatts has attracted bids from some of the leading project developers in India and abroad. A total of 20 developers have placed bids with a cumulative capacity of 7,500 megawatts, translating into a 10 times over-subscription of the tender.

The solar power park will be developed in 3 phases of 250 MW capacity each, spread over a total of 1,500 hectares. Power generation from the first phase is expected to start beginning in June 2017, with the entire capacity expected to be fully operational by December 2017.

Of the 20 bidders, four have submitted to develop all three sections of the park. ReNew Power (one of India’s leading renewable energy developers and backed by Goldman Sachs), SBG Cleantech (joint venture between Bharti Enterprises, SoftBank and Foxconn), Enel Green Power and Adani Group (operator of India’s largest solar power project) submitted bids to develop the entire 750 megawatts capacity.

Hero Future Energies and Mahindra Renewables, both parts of large industrial conglomerates in India placed bids to develop 500 megawatts each.

A number of reputed Indian and global companies submitted bids to develop 250 megawatts capacity each. These include Acme Solar, Orange Renewables, Torrent Power, GDF Suez, RattanIndia Power, Aditya Birla Renewables, Azure Power Canadian Solar and Solenergi Power.

Almost a third of the planned capacity has already been allocated to the Delhi Rail Metro Corporation (DMRC) while the rest will be signed up by the distribution utilities of the host state, Madhya Pradesh. The International Finance Corporation (IFC) will provide funding for the project.



January 31, 2017 0 comment
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Bids Invited For 750 MW Solar Power In Indian State Of Madhya Pradesh

Bids Invited For 750 MW Solar Power In Indian State Of Madhya Pradesh

written by saurabh

In what is probably the first tender floated for an ultra mega solar power project in India, central and state agencies in India have invited bids to set up 750 MW of solar power capacity in the state of Madhya Pradesh.

The 750 MW solar power park will be one of the biggest in India once fully operational. The project is among the first ultra mega solar power projects approved by the central government under its revised solar power target of 100 GW by March 2022.

The solar power park shall be developed in 3 phases of 250 MW capacity each spread over a total of 1,500 hectares. Delhi Metro Rail Corporation shall sign a power purchase agreement, likely for 150 MW, while the remainder capacity shall be procured by the state utility. Power generation from the first phase is expected to start from June 2017 while the entire capacity is expected to be fully operational by December 2017.

Earlier this year, the International Finance Corporation (IFC) signed an agreement with the government of the state of Madhya Pradesh in India to provide assistance in the implementation of the solar power park. The IFC will extend its global expertise to structure and implement the transaction to help attract private investments of about $750 million. IFC’s work on this project will be supported by its partnership with Australia’s Department of Foreign Trade.

The government of Madhya Pradesh has already approved the project following which the process of land acquisition was initiated. The project is expected to required a total investment of around $500-600 million as per the current capital cost requirements.



March 23, 2016 0 comment
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World Bank Excited About Israel’s Cleantech Companies

written by Walter Wang

Ruzgar Barisik, Senior Investment Officer at the World Bank Group’s International Finance Corporation (IFC) spoke with Israel NewTech about his recent visit to Israel, and the IFC’s plans for cleantech investment. “Israel is a very exciting place for us: market interest in a growing number of Israeli technologies makes this a very promising area we want to be part of”,” said

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May 7, 2012 0 comment
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Energy Efficiency in Non-EU Countries

written by Walter Wang

A short while ago we discussed the European Union’s Energy Efficiency Plan and its goal to achieve a 20% improvement in its energy savings by the year 2020. Click here for a refresher on that. Basically, we found out that the initially instituted plan wasn’t totally working out as the European Commission had

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August 10, 2011 0 comment
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