FRV - Fotowatio Renewable Ventures wins first solar project in India
Written by Administrator
Friday, 20 May 2016 12:20
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Fotowatio Renewable Ventures (FRV), a leading global developer of utility-scale photovoltaics (PV) solar power plants and part of Abdul Latif Jameel Energy and Environmental Services, has been awarded a 100 MW power purchase agreement (PPA) in  Andhra Pradesh, its first-ever solar auction in India conducted by Solar Energy Corporation of India, Ltd. (SECI).

FRV's bid required the lowest viability gap funding support, of Rs4.45 million ($66,789) per MW, from state-owned Solar Energy Corporation of India (SECI) which was awarding the projects.

The 25-year agreement was signed at a fixed tariff of US 6.67 cents/kWh (4.43 INR/kWh) coupled with Viability Gap Funding from SECI.

Scheduled to commence operation in 2017, the project, which is FRV’s first in India, will be developed within Ananthapuramu Solar Park in Andhra Pradesh, and will have land allocated and interconnection provided by public entities. Upon completion, the solar plant will be able to meet the electrical needs of approximately 35,000 average homes, while eliminating approximately 190,000 tons of CO2 emissions per year.