Karnataka discoms and SunEdison signed power purchase agreement for its 150MW solar power plant which is projected to be completed in 18 months and would have the investment of INR 1500 crores (USD 250 million).
Bengaluru Electricity Supply Company(BESC) and Hubli Electricity Supply Company(HESC) had separate power purchase agreement. According to this both discoms will buy power at an average of INR 7 (USD 0.113) per unit. The project would require 750 acres of land but it is still need to be finalize. The project was earlier won by SunEdison in a tender which was floated by Karnataka Renewable Energy Development Ltd.(KREDL). Total auctioned capacity by KREDL is 500MW. This project by SunEdison will be the biggest one.