Solarpack reveals record-breaking solar plant will certainly remain in Rajasthan

• The Spanish programmer, which will offer solar energy at an Indian record low tariff of Rs2.36/ kWh under a 25-year offer has spoken with pv magazine regarding the specifics of the landmark PV plant.

Spanish developer Solarpack has revealed details of the record-breaking 300 MW project capacity it safeguarded in the recent 2 GW solar public auction held by the Solar Energy Corporation of India (SECI).

The Basque developer landed 15% of the capacity offered in the auction and will certainly create a 396 MWdc solar project in Rajasthan which will certainly market power to SECI for an Indian record low solar electrical power toll of Rs2.36/ kWh under a 25-year power acquisition arrangement (PPA).

Javier Arellano, Head of Corporate Development as well as Investor Relations at Getxo-based Solarpack informed pv magazine: "The plant will be recently created as well as the task will certainly represent an overall investment of approx. 129 million euros. The task will be financed with long-term elderly financial debt from financing establishments, as well as equity offered by Solarpack."

Solarpack anticipates the plant to become operational in 2022, when it will generate around 753 GWh per year, as well as prepares for earnings of greater than Rs4,240 crore from the sale of electrical power over the PPA agreement lifetime.

The developer

" Solarpack is a highly specialized integrated solar PV platform that covers the amount chain of utility scale solar PV project integration," Arellano informed pv magazine. "We do every little thing from greenfield development to financing, construction and O&M [procedures and upkeep] Being present in the whole value chain given that 2005 allows us to have an advancing, in-depth expertise in all the key elements that make a job affordable: [the] right job area, competitive capex [capital expenditure] because of continuously enhanced engineering design, long-lasting connections with Tier 1 providers and also subcontractors and experienced building managers, optimal monetary framework and also competitive O&M offered by our very own groups."

Solarpack is an international which asserts to have actually developed 876 MW of solar generation capacity along with 509 MW of facilities implemented on a 'complete' or design, procurement and construction basis.

The firm, which began task in India in 2015, generates power at 15 projects with a complete capability of 545 MW in Spain, Chile and Peru as well as India.