SunEdison wins Karanataka solar photovoltaic projects

SunEdison, Inc. has won 5 solar photovoltaic (PV) projects totaling 150 MW from Karnataka Renewable Energy Development Limited (KREDL) as announced by the Government of Karnataka (India).

SunEdison and its affiliates, including Yieldcos, are envisioned as the ultimate owners of these solar projects, and will sell the electricity generated to various entities via Power Purchase Agreements (PPA's).

Pashupathy Gopalan, president Asia Pacific Operations stated:

"This is yet another milestone in the journey of SunEdison in India to build a strong pipeline of projects that will be developed and commissioned in the coming years,"

Mr Gopalan added that the PPA's are likely to be signed in the next two to three months.

While 44 developers responded to KREDL's tender for 500 MW of grid-connected solar power plants, SunEdison's 150 MW represents the largest share awarded to any single company.

Following SunEdison's recent announcement of a Memorandum of Understanding (MOU) for 5 GW with the Rajasthan Government, this award solidifies SunEdison's position as the clear leader in India's rapidly growing solar market.