The government of Indian state Punjab has reported that it has received clean energy bids equivalent of Rs 3,500 crore (about 528 million) at its latest auction.
A statement issued by New and Renewable Energy Minister of Punjab Bikram Singh Majithia states that 18 companies bid for establishing solar projects in the state.
SunEdison, First Solar and SkyPower, Sun Pharma, Acme, Hero Group and Azure were among the bidders.
In terms of capacity, the bids total 1,650 MW. The state originally offered capacity addition of only 500 MW.
Majithia has stated that the process of allocation of the projects will be completed by the end of September.
Punjab’s government-run utility PSPCL has signed 25-year power purchase agreements with the projects.
“Hassle-free land acquisition and land lease policies, pro-business policies, incentives, infrastructure, power provision, and ease of doing business make Punjab an attractive investment destination for companies,” Majithia has stated.
Punjab has been aiming to increase its solar power capacity to 1,500 megawatts by next December.
Ajith Kumar S