India's Acme Solar wins bids for at least 446 MW in state tender

Tue Aug 4, 2015 2:00am EDT
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MUMBAI Aug 4 (Reuters) - India's Acme Solar has won bids for at least 446 megawatts (MW) in the country's largest solar tender in southern Telangana state, a top company executive said on Tuesday.

"There is a chance we can go to 455 MW depending on the bidding criteria," Chairman Manoj Upadhyay told Reuters, adding that the company's average bid price was close to 5.80 rupees per unit.

The 2,000 MW tender received submissions from 101 developers, consultancy Bridge To India said in a note, underscoring increasing competition in the sector as India ramps up its focus on renewable energy.

"Our plan is that by December 2016, we should be a 2,000 MW company," Upadhyay told Reuters. The company currently has an installed capacity of close to 200 MW.

Other key winners in the bid included wind turbine maker Suzlon Energy Ltd, U.S.-listed SunEdison Inc and Canada's Skypower Ltd. (Reporting by Aman Shah in Mumbai; Editing by Gopakumar Warrier)