FRV wins first solar project in India

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
FRV wins first solar project in India

Fotowatio Renewable Ventures (FRW) has achieved rights to develop 100 MW solar power project, which will be part of a larger solar park in Andhra Pradesh, India.

FRW proposed the lowest capital support with INR44.5 million (US$67,000) per MW at a fixed tariff of INR4.43/kWh, which was less than 9% of the total capital cost initially estimated by Solar Energy Corporation of India (SECI).

SECI is a company not for profit, under the administrative control of the Ministry of New & Renewable Energy (MNRE) created to facilitate the implementation of PV projects.

Acme Solar (150 MW), Tata Power Renewable Energy (100 MW) and Azure Power (50 MW) were also major winners of the SECI's tender. These companies will receive capital cost support between INR5.5 million (US$82,800) to INR7.45 million (US$112,200) per MW which is also significantly lower than the estimated capital cost of around US$790,000 per MW.

The National Solar Mission (NSM) of India is currently working to achieve a goal of 175 GW of clean energy capacity by 2022, of which 100 GW should be solar photovoltaic (PV) power. 

Share this news