In India, a competitive selection of 250 MW solar energy projects organized by the state-owned power company Gujarat Urja Vikas Nigam Limited (GUVNL) has been completed. Three Indian companies have emerged as winners. The long-term electricity tariff is set at 2.6 Indian rupees per kWh (about 3 US cents per kWh).

GUVNL will sign 25-year power purchase and sale agreements with the winners, which provides long-term guarantees of return on investment. The rupee tariff has remained stable for several years, which reduces currency risks for investors.

Projects can be located anywhere in India and connected to the grid through substations of the State Grid Corporation or the Gujarat Grid Corporation. Owners of power plants are required to maintain a capacity factor of at least 22%, which is stipulated in the contracts and ensures a minimum level of profitability. In parallel, tenders are being held in India for the construction of solar power plants in combination with energy storage. In the latest tenders, prices were Rs 3.09-3.1 per kWh, which demonstrates the development of energy storage technologies and creates additional investment opportunities.

Long-term contract mechanisms and stable tariffs reduce risks for investors, making the Indian solar energy sector an attractive investment opportunity.