India Signs Power Contracts for 700 Megawatts Solar
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India signed contracts to purchase solar power from companies building 700 megawatts of capacity awarded in a national auction.
The government is waiting to sign purchase agreements for the remaining 50 megawatts from the auction in February, Tarun Kapoor, joint secretary at the Ministry of New and Renewable Energy, said today in an interview in New Delhi. The agreements, which lock in rates for the power generated for 25 years, bind developers to complete the plants within 13 months.