- Wins largest allocation in MPUVNL bid, which includes ~90% of the
total project sites allocated
NEW DELHI--(BUSINESS WIRE)--
Azure Power (NYSE:AZRE), one of India’s leading independent solar power
producers, announced it has won 11.2 MW and 600 KW rooftop solar power
projects in bids conducted by Madhya Pradesh Urja Vikas Nigam Limited
(MPUVNL) and Indraprastha Power Generation Company Ltd (IPGCL)
respectively. Azure Power will provide power for 25 year to various
Government establishments in Madhya Pradesh and Delhi which will be
spread across approx 600 project sites. Azure Power qualifies for a
capital incentive which results in a weighted average levelized tariff
of INR 4.50 (~US 6.6 cents) per kWh for the MPUVNL project and a
weighted average levelized tariff of INR 5.91 (~US 8.6 cents) per kWh
for the IPGCL project.
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Azure Power Solar Rooftop Plant (Photo: Business Wire)
For the bid tendered by MPUVNL, World Bank is the technical partner
which provided pre-identified project sites with technical due
diligence. Azure Power’s win of 11.2 MW is the largest allocation in the
bid, which includes approx 90% of the total project sites allocated and
covers Government Buildings like Colleges, Poly-Technic Colleges,
Industrial Training Institutes (ITI’s) and Police Establishments.
Azure Roof Power offers superior rooftop solar power solutions
for commercial, industrial, government, and institutional customers in
cities across India to lower their energy bill and meet their greenhouse
gas (GHG) emission reduction targets. With over 200 MWs of high quality,
operating and committed solar assets across 23 states, Azure Roof Power
has one of the largest rooftop portfolios in the country. Azure Roof
Power has a well-diversified customer base with a majority of the
portfolio contracted with Government of India backed entities. Azure
Roof Power customers include large commercial real estate companies, a
leading global chain of premium hotels, distribution companies in smart
cities, warehouses, Delhi Metro Rail Corporation, Indian Railways, a
Delhi water utility company and various Government of India Ministries.
Speaking on this occasion, Mr Vishal Jain, DGM, Azure Roof Power said “We
are pleased to partner with IPGCL, MPUVNL and World Bank for these
projects. With these wins, we have once again demonstrated our strong
project development, engineering, and execution capabilities. We are
delighted to make this contribution towards the realization of our
Hon’ble Prime Minister’s commitment towards clean and green energy,
through solar power generation.”
About Azure Power
Azure Power (NYSE: AZRE) is a leading independent solar power producer
with a pan-Indian portfolio. With its in-house engineering, procurement
and construction expertise and advanced in-house operations and
maintenance capability, Azure Power provides low-cost and reliable solar
power solutions to customers throughout India. It has developed,
constructed and operated solar projects of varying sizes, from utility
scale, rooftop to mini & micro grids, since its inception in 2008.
Highlights include the construction of India’s first private utility
scale solar PV power plant in 2009 and the implementation of the first
MW scale rooftop project under the smart city initiative in 2013.
For more information, visit: www.azurepower.com.
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Azure Power
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Source: Azure Power
