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#SunEdison to power #solar India

SolarPanel

A US-based company Sun-Edison won the auction for a 500MW project in Andhra Pradesh to supply power at Rs.4.63 per kW-hour. The record low tariff is expected to boost the demand of renewable sources of energy, especially when PM Narendra Modi is pushing for cleaner fuel. The company is likely to be a big beneficiary of USD160bn business over the next five years in India. The government is providing cheap loans to setup solar projects to meet its ambitious target of 175GW by 2020 through renewable source so energy. Large investors like Foxconn and Softbank have pledged about USD20bn in solar projects in India.

 

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