IBC Solar signs contract with SECI

Germany-based solar developer IBC Solar has signed a Power purchase agreement (PPA) of 20 MW (AC) solar plant which is part of 270 MW (AC) PV project in the state of Odisha, with Solar Energy Corporation of India (SECI).

Negotiations have been concluded with finance company L&T finance it will finance the debt of approximately INR 980 million ($15.3 million) for the Odisha project. IBC Solar has a strong pipeline of projects underway in India, having already connected six PV power plants in the country so far this year like it commissioned the 22.5 MW solar farm located near Phalodi in the Indian state of Rajasthan the project was commissioned more than three months ahead of schedule.