Press for SunBorne Energy
Welspun Group, India’s largestsolar photovoltaic developer, and Sunborne Energy Holdings LLC,backed by billionaire Vinod Khosla, won contracts to build sun-powered plants in the nation’s Karnataka state.
The lowest bid in the auction for 10 contracts by theKarnataka Renewable Energy Development Ltd. came from HelenaPower Pvt., which committed to sell photovoltaic-basedelectricity to the state-run utility at 7,940 rupees ($152) permegawatt-hour. That’s about double the wholesale price of coal-based power. Welspun, which is backed by Apollo Global Management LLC (APO)co-founder Leon Black, won a 7-megawatt photovoltaic project andSunborne won a 10-megawatt solar-thermal project, whichharnesses sunlight to heat liquids that produce steam forgenerators; photovoltaic plants use panels to turn sunlightdirectly into power.
Sunborne Energy, a Haryana-based solar power developer backed by General Catalyst Partners and Kosla Ventures, is contemplating setting up a 50-Mw solar thermal power project in Andhra Pradesh involving an investment of between Rs 500 crore and Rs 600 crore (including land cost).
The company has already acquired 200 acres of land in Andhra Pradesh and is now trying to work it out with the state government to set up the plant.
Solar projects developer SunBorne Energy has joined hands with Europe-based IPP Eoxis Energy for executing a 15 MW solar photovoltaic (PV) project being built in Gujarat, the company has said in a statement on Wednesday. This project marks Eoxis’ first investment in the country.
The project is expected to be operational by December 2011 and falls under the solar programme of Gujarat.
Sunborne Energy LLC, a solar power developer backed by billionaire Vinod Khosla, got a 1.4 billion- rupee ($30.6 million) loan to build a plant following India's first auction of solar development permits.