NEW DELHI--(BUSINESS WIRE)--
Azure Power (NYSE:AZRE), a leading solar power producer in India,
announced that it has won a 50 MW solar power project under the National
Solar Mission (NSM) Phase II Batch III, which was recently put up for
auction by Solar Energy Corporation of India (SECI). Azure Power secured
50 MW of the total 100 MW capacity auctioned and will supply power to
SECI for 25 years. The project will be built in the Ananthapuramu Solar
Park, which is being developed by the Solar Park Implementation Agency
(SPIA), Andhra Pradesh Solar Power Corporation Limited (APSPCL).
The tariff on the project will be INR 4.43 per kWh (US$0.067) with an
additional support of INR 12.7 million per MW (US$ 0.19 million) from
the Government of India in terms of Viability Gap Funding (VGF). This
makes the levelized tariff of this project significantly higher than the
levelized tariff of the lowest bid, including VGF, under SECI auctions
in NSM Phase II Batch III.
Inderpreet Wadhwa, Founder and Chief Executive Officer, Azure Power
said, “Azure Power maintains a strong track record of winning
projects under every phase of National Solar Mission policy. With this
win, we have once again demonstrated our strong project development
capabilities. We are delighted to make a contribution towards the
realization of our Hon’ble Prime Minister’s commitment towards clean and
green energy, through solar power generation.”
Azure Power has been among the most active participants in several solar
power auctions since the launch of solar power market in India. With a
portfolio of over 1,000 MW, the majority of the Company’s projects are
with credit worthy customers backed by the sovereign Government of India.
About Azure Power
Azure Power (NYSE:AZRE) is a leader in the Indian solar industry and has
developed, constructed and operated solar projects of varying sizes,
from utility scale to rooftop, since its inception in 2008. Azure Power
has a vast experience in delivering solar power projects, from the
construction of India’s first private utility scale solar PV power plant
in 2009, implementation of the first MW scale rooftop under the smart
city initiative in 2013, to the largest solar plant (100 MW) under
India’s National Solar Mission (NSM) policy in Jodhpur, Rajasthan. With
its in-house engineering, procurement and construction expertise and
advanced in-house operations and maintenance capability, Azure Power
manages the entire development and operation process, providing low-cost
solar power solutions to customers throughout India.
For more information, visit: www.azurepower.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20161223005048/en/
Media:
Marketing, Azure Power
Samitla Subba, +91-11-
4940 9800
[email protected]
Source: Azure Power Global Ltd
