India’s Tamil Nadu to Auction 1 Gigawatt Solar Projects

India’s southern state of Tamil Nadu plans to auction 1 gigawatt of solar power capacity next month, the state electricity utility said.

Developers may submit bids for projects of 1 megawatt or more by Jan. 4, according to a tender document from the Tamil Nadu Generation and Distribution Corp. It didn’t place a cap on the number or size of projects it would award to any one developer.

Those offering to sell solar power at the lowest rates will win, the utility said. Winners will sign 20-year power-sale contracts with Tamil Nadu Generation and have 10 months to build the plants or face penalties.

Developers will be responsible for laying power lines from their project to the nearest substation at their cost and for obtaining land for their projects.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE