The company said Tuesday the Ghani Sakunala Solar Park commenced operations on March 29, 51 days ahead of the launch date in its power purchase agreement (PPA). It will be selling power at a rate of INR 4.63/kWh (USD 0.071/EUR 0.067).

 

SB Energy, currently a wholly owned unit of SoftBank Group Corp (TYO:9984) of Japan, designed and developed the photovoltaic (PV) project.

 

There is a proposal for SB Energy to become a joint venture between SoftBank, Indian firm Bharti Enterprises Ltd and Taiwan’s Foxconn Technology Group. The transaction is subject to securing antitrust approvals.

 

India installed 4 GW of solar PV capacity in 2016, ranking fourth globally after China, the US and Japan, according to the International Renewable Energy Agency (IRENA). In 2017 the country is expected to take the third position with demand for solar roughly doubling.