IBC Solar AG has signed a Power Purchase Agreement (PPA) for a 20MW (AC) solar plant with the Solar Energy Corporation of India (SECI). The project was part of a 270MW (AC) PV tender in the state of Odisha and assigned to IBC Solar through a competitive auction process during 2016. The PV system is planned to be put into operation by late 2017.
"We are pleased to announce the signing of the PPA with SECI, a company of the Government of India, and are confident to realise this project in the state of Odisha within the stipulated timeframe and according to our global quality standards. The confidence expressed by lenders in IBC Solar helps to further scale up our business in India", Mr. Shailendra Bebortha, Managing Director of IBC Solar Projects India Private Limited commented.