India May Announce 750-Megawatt Solar Auction in October
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India may announce this month an auction of licenses to build solar-power plants after a gap of almost two years, offering developers as much as 3 billion rupees ($48 million) of direct grants for the first time.
The Ministry of New and Renewable Energy is awaiting Cabinet approval to invite bids for 750 megawatts of solar photovoltaic capacity, Ministry Joint-Secretary Tarun Kapoor said in an interview in New Delhi. The auction, which may be announced in the next 10 days, is typically held about 45 days after bids are invited, he said.