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SunEd, Azure big Karnataka winners

SunEdison has emerged as the biggest winner in the Indian state of Karnataka’s 500MW solar tender, securing 150MW of capacity across five projects.

SunEdison’s bids were in the range of 6.83-6.97 rupees ($0.11) per kWh, according to local press reports.

Running a close second in the tender was Azure Power, which won 140MW of capacity, with bids ranging from 6.89-6.96 rupees/kWh.

Among the other winners was the solar subsidiary of Indian conglomerate Welspun.

SunEdison’s performance in Karantaka’s tender was announced just days after it revealed a 5GW memorandum of understanding with the state of Rajasthan, to be built in increments of at least 500MW.

Yet while many key details about the Rajasthan arrangement remain unsettled, SunEdison’s win in Karnataka gives it a clear near-term path to further expanding its market share and experience in India.

PPAs for the Karnataka projects are likely to be signed within the next two to three months, says Pashupathy Gopalan, SunEdison’s president of Asia Pacific operations.

As with the future Rajasthan projects, the 150MW of capacity in Karnataka will remain under ownership by SunEdison or its yieldcos.

SunEdison this summer launched its first yieldco, TerraForm Power, and has said it may launch another that would focus on emerging solar markets in Asia and Africa.

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