India's Gujarat to have solar power capacity of 300 MW by end-Dec

(SeeNews) – Dec 12, 2011 – India's state of Gujarat is set to have only 300 MW of solar power projects commissioned by the end of this month, as many companies that have signed power purchase agreements (PPAs) are seen to miss a key deadline for putting their projects into operation, the Business Standard said today.
The newspaper cited Gujarat's energy secretary DJ Pandian, who forecasts that many of the companies who have signed PPAs with Gujarat Urja Vikas Nigam Ltd (GUVNL) for a total of more 900 MW were to miss the commissioning deadline of December 31, 2011. A developer that misses the deadline would have to pay GUVNL a fine of INR 10,000 (USD 190/EUR 143) per day per MW.
But the minister insisted that there would be no extension of the deadline despite heavy lobbying from the industry.
Gujarat aims to have about 84 solar projects developed under the state policy. According to Pandian, by August 2012 the state would have solar capacity of about 500 MW, with that figure to rise to nearly 700 MW by September 2012.
(INR 100 = USD 1.899/EUR 1.432)

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