The Indian state-owned hydropower company NHPC has awarded EPC contracts worth INR66bn (US$850m) to develop 1 GW of grid-connected solar PV projects and related transmission infrastructure under Tranche-III of CPSU (Central Public Sector Undertakings) with a completion period of 18 months. Selected companies include Adani Infra (India) Limited for 600 MW with a total contract price of INR43bn (US$550m) in the State of Gujarat, Tata Power Solar Systems for 300 MW with a total contract price of INR17bn (US$220m) in the State of Rajasthan and SSEL-ASR JV for 100 MW with a total contract price of INR5.8bn (US$80m) in the State of Andhra Pradesh.
Solar accounts for 12% of the country's installed capacity, with 49.3 GW (end-2021). Since 2016, India has commissioned on average 7.4 GW/year of solar projects, including a record 11.9 GW in 2021. The country aims to develop 175 GW of renewable power capacity by 2022, including 100 GW of solar.