SBE Five Limited (SB Energy/ SoftBank) won the bids for development of 200 MW Pavagada Grid Connected Solar Photovoltaic (PV) Power Projects in Karnataka. SBE Five has emerged as the lowest bidder after quoting a tariff of Rs 2.82/kWh to develop the entire capacity. The other bidder included Tata Power Renewables, which bid a tariff of Rs 2.83/kWh for the entire capacity.
Bids for the same were invited by Solar Energy Corporation of India (SECI) under National Solar Mission Phase-II Batch-IV, Tranche-XIV. The projects are expected to be developed on build, own and operate (BOO) basis.
Besides, SECI is expected to sign the power purchase agreement (PPA) for a period of 25 years with SBE Five by July 31, 2018.
The projects are to be established inside the Pavagada Solar Park in Tumkur district of Karnataka.