RattanIndia Solar wins 40 MW project in Maharashtra

RattanIndia Solar today said it has won 40 MW solar project in Maharashtra at a tariff of Rs 4.43 per kWh.
"RattanIndia Solar, through its company Sepset Constructions Limited, a part of the RattanIndia group, has won solar project of 40 MW capacity at a tariff of Rs 4.43/kWh plus a viability gap funding of Rs 49 lakh/MW in reverse e-auction conducted by Solar Energy Corporation Limited (SECI) on January 22, 2016," the company said in a statement.
Overall combined capacity of 450 MW was offered in this bid, it added.
Under this bid, arranging land for the project was the responsibility of the bidder.

"However, the acquisition of land has become extremely challenging in the wake of new land regulations for private players as well as government which resulted in limited participation of bidders," the statement said.
RattanIndia shall develop this project on its land available in Katol industrial area near Nagpur city of Maharashtra where it is already operating 4 MW of solar power plants for last more than 5 years in part of the land, it added.

"RattanIndia is fully committed to provide clean and green energy at most affordable cost. Having ready land bank of over 200 acres for this project is a huge positive for us.

"This also differentiates us from other players who will start land acquisition now which in itself is a huge challenge," said RattanIndia Solar CEO Anjali Rattan Nashier.
RattanIndia had recently won 70 MW of solar project in Rajasthan and with this project, the group's current solar portfolio has increased to more than 240 MW which is spread across the country.
With this project, the group has bagged 110 MW solar projects in a span of just 4 days.
RattanIndia was also the second lowest bidder for 900 MW of NTPC solar projects in Andhra Pradesh.
The group will also be implementing 10 MW of grid connected solar rooftop projects on CPWD buildings in Delhi and West Bengal which includes important government buildings like Supreme Court and Krishi Bhawan, it added.