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Azure Power wins 46 MWs of solar projects from Indian Railways across
11 states in India
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Azure Power’s rooftop portfolio now more than 100 MWs across 14 states
in India
NEW DELHI--(BUSINESS WIRE)--
Azure Power (NYSE:AZRE), a leading solar power producer in India,
announced that it has won 46 MWs of solar rooftop projects across eleven
states pan India for Indian Railways. Indian Railways is the largest
rail network in Asia and is owned and operated by the Government of
India through the Ministry of Railways.
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The power purchase agreement (PPA) will be signed with Indian Railways
for their respective zones and coach factory for 25 years. The average
tariff for the project is INR 4.63 (~USD 7 cents) per kWh with an
additional capital incentive of INR 933.5 million (~US$ 14 million) upon
commissioning
Out of the 46 MWs total allocation, 20 MWs has been allocated
by Northern Railways division, 10 MWs by the Western Railways division,
10 MWs by the North-Central Railways division, 3 MWs by the North
Western Railways division, and 3 MWs by the Rail Coach Factory division.
Inderpreet Wadhwa, Founder and Chief Executive Officer, Azure Power
said, “Azure has superior rooftop solar power solutions for
infrastructure, commercial and industrial customers in cities
across India to lower their energy costs and meet their greenhouse gas
(GHG) emission reduction targets. We are pleased to partner with Indian
Railways in reducing their GHG emissions through deployment of solar
energy at their facilities across locations pan- India.”
With this win, Azure Power rooftop solar portfolio surpassed 100 MWs
across 14 states in India. Azure Power recently announced the successful
installation and operation of the first phase of its rooftop solar power
plant for Delhi Metro Rail Corporation (DMRC). The 14 MW project is one
of the largest allocations by DMRC to a solar power company. The project
covers DMRC metro stations, workshops and parking lots. Azure Power’s
rooftop customers also include large commercial real estate companies, a
leading global chain of premium hotels, distribution companies in smart
cities, warehouses, DMRC and Delhi water supply company.
About Azure Power
Azure Power (NYSE:AZRE) is a leading solar power producer in India with
a total portfolio of over 1,000 MWs across 18 states. It 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
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Source: Azure Power
