Solar Power India aims to generate by 2022

India’s first solar auction, designed to boost clean energy in the world’s fourth-biggest polluter, took place on December 13. The 37 bid winners are from a varied fields and most are without experience or proof that they can keep projects afloat earning low margins.

Under auction rules, project developers offering to sell their electricity at the cheapest rates were selected. The lowest solar photovoltaic bid price came in at 10.95 rupees (24 cents) per kilowatt-hour and the lowest solar thermal bid was 10.49 rupees per kilowatt-hour, offering discounts of more than 30 percent to government-proposed rates.

India is Asia’s second-fastest growing major economy, which averages 300 sunny days a year, aims to generate 20 gigawatts of solar power by 2022, equivalent to 12 percent of its total electricity production today.There is high power needs in India where peak electricity demand outstripped supply by more than 10 percent this year, according to the Central Electricity Authority.

The Asian Development Bank has announced that it plans to partially guarantee commercial bank loans to $425 million worth of solar investments in India to help the sector take off.But the projects have to be credible. --------

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