FRV wins a 135 MWp power purchase agreement in reverse auction under the National Solar Mission program in India

May 31, 2016
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Fotowatio Renewable Ventures (FRV), a leading global developer of large-scale solar power plants, has been awarded a 135 MW power purchase agreement (PPA) in a reverse auction, conducted by Solar Energy Corporation of India Limited (SECI). The auction falls under the National Solar Mission program which was launched by the Government of India to achieve 100 GW of installed solar capacity in the country by 2022.

The 25-year agreement was signed at a fixed tariff of US 6.67 cents/kWh (4.43 INR/kWh) coupled with Viability Gap Funding from SECI.

Scheduled to commence operation in 2017, the project, which is FRV’s first in India, will be developed within Ananthapuramu Solar Park in Andhra Pradesh, and will have land allocated and interconnection provided by public entities. Upon completion, the solar plant will be able to meet the electrical needs of approximately 35,000 average homes, while eliminating approximately 190,000t CO2 emissions per year.


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Marko Kremer

Senior Director, DIF Australia

FRV’s main strength is its ability to develop all processes internally. This provides the knowledge and capacity to anticipate what will happen and explain it clearly.

Roberto de Diego Arozamena

CEO, Abdul Latif Jameel Energy and Environmental services

FRV has technological and operational independence in their execution, which allows us to always find the best solution for each particular project.

Gianfranco Carassale

Lead Investment Officer, Inter-American Investment Corporation (IIC)

They are known for their expertise in solar technology as well as for their deep knowledge of the process, the financial structure and the energy market as a whole. This enables them to be extremely competitive. This way they reach efficiency and maximize profits, developing economically viable projects even at very tight and ambitious price targets.