Spain-based Fotowatio Renewable Ventures (FRV) has stepped into the Indian solar sector by winning a 100 MW project in Andhra Pradesh.

In the auction for 400 MW of solar capacity made by Solar Energy Corporation of India, the other winning bidders were ACME 150 MW, Tata Power Renewable Energy 100 MW and Azure Power 50 MW.

The tender was ‘viability gap funding’ based, with tariff fixed at ₹4.43 a kWhr. RattanIndia and Renew Solar Power were the other bidders.