Orange Renewable has signed a power purchase agreement with Solar Energy Corporation of India Ltd (SECI) for the development of 100 MW solar power project in Maharashtra under JNNSM Phase-II, Batch-III Scheme.

SECI has been designated as the nodal agency of GOI for implementation of MNRE schemes for developing grid connected solar power capacity. MNRE has revised the cumulative targets under National Solar Mission from 20 to 100 GW by 2021-22, which has given a big boost to the Indian solar sector and has made India the preferred destination for investors.

Orange Renewable has won this contract through a competitive bidding process followed by online live reverse auction conducted by SECI on TCIL platform. Total tendered capacity was 450 MW and the projects fall under a Non-Solar Park Scheme. Orange Renewable will receive an average power tariff of Rs. 4.43 per kilowatt-hour for the next 25 years from commercial operation date of this project which is scheduled in 2017.