Just days after some media outlets had reported that SkyPower Global may be looking to sell equity stake in its under-development solar power projects in India, the company has taken a major step towards the implementation of these projects.
Canada-based renewable energy projects developer SkyPower Global has selected Sterling and Wilson as the EPC contractor for 350 MW solar power projects in India.
SkyPower Global had secured 200 MW solar power capacity through competitive auctions in the state of Telangana and another 150 MW in the state of Madhya Pradesh. Sterling and Wilson shall execute this capacity in 7 projects of 50 MW capacity each.
Progress by SkyPower on some of the largest solar power projects in India is a massive boost for the image of the country’s solar power market. A number of analysts continue to feel that solar PV bids have fallen too low, too fast making the projects financially unviable.
Poor financial condition of SunEdison which has 1.7 GW under-development solar power capacity in the country only strengthened this argument. But SkyPower completed the regulatory requirements associate with these projects and has now taken another major step towards the final commissioning of the projects.
Construction of the projects is expected to begin in the third or fourth quarter of this year; following which commissioning can be expected in around a year.