- Largest solar power project in north India
- Azure Power is the largest owner and operator of solar power
plants in Punjab
NEW DELHI--(BUSINESS WIRE)--
Azure Power (NYSE:AZRE), a leading solar power producer in India,
announced that it has commissioned the largest (150 MW) solar power
project in north India, in the state of Punjab in December 2016. For
this project, Azure Power had signed a solar power implementation
agreement with Punjab Energy Development Agency (PEDA) under its Solar
Policy Phase III. The 150MW solar power plant represents a portfolio of
three projects of 50MW each. The weighted average tariff on these
projects is INR 5.63 (US$ 8.5 cents) per kWh and the company will supply
power to Punjab State Power Corporation Limited for 25 years.
Spread across 713 acres of land in Punjab, the project was commissioned
ahead of the contracted scheduled date. By leasing project land, Azure
Power has created discretionary long term cash flow for the local
community. The solar power plant will help in electrifying the nearby
areas and will create an estimated 1,000 jobs in the locality.
Commenting on the occasion, Inderpreet Wadhwa, Founder and Chief
Executive Officer, Azure Power said, “We are pleased to have started
2017 with the early commissioning of our largest project. Our ability to
complete projects ahead of schedule and at scale is a testament to our
efficiency and reliability as a trusted solar power producer. We
continue to demonstrate our strong project development, engineering, and
execution capabilities and are delighted to make this contribution
towards realization of our Hon’ble Prime Minister’s commitment towards
clean and green energy, through solar power generation. Our sincere
gratitude to the Hon’ble Deputy Chief Minister and the State of Punjab,
for all the cooperation and support extended.”
Azure Power has a long history of operating solar power plants in India
and currently maintains a leading position in the state of Punjab.
Starting with the Awan 2MW project in 2009, Azure Power now has a total
solar portfolio of 225 MW in the state, currently making it the largest
owner and operator of solar power plants in Punjab.
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 strong track record 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/20170103005427/en/
Azure Power Global Ltd
Samitla Subba, +91-11- 4940 9800
[email protected]
Marketing,
Azure Power
Source: Azure Power Global Ltd
