RattanIndia wins 50-MW solar project in Uttar Pradesh auction

March 15 – RattanIndia Solar Ltd has won a 50-MW solar project in the Indian state of Uttar Pradesh by making a bid of INR 4.43 (USD 0.066/EUR 0.059) per kWh in a reverse e-auction held by Solar Energy Corporation Ltd (SECI).

The project will receive a viability gap funding of INR 7.5 million per MW, RattanIndia Solar said on Tuesday, as cited by local media. The land in Allahabad where the solar park is to be built will be provided by the state government.

A total of 440 MW was offered in the SECI auction, of which 50 MW was for Allahabad, a company statement reads.

RattanIndia’s domestic solar project portfolio surpasses 240 MW. Previously, the company won a 70-MW project in Rajasthan and a 40-MW scheme in Maharashtra.

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