- PPA’s signed with Government establishments in Madhya Pradesh in
bid conducted by Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL)
NEW DELHI--(BUSINESS WIRE)--
Azure Power (NYSE: AZRE), one of India’s leading independent solar power
producers, announced it has signed a record 415 PPAs for a portion of
the 11.2 MW rooftop solar power project won last month for Madhya
Pradesh Urja Vikas Nigam Limited (MPUVNL) in which the company won ~90%
of the total project sites allocated.
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Azure Power Solar Rooftop Plant (Photo: Business Wire)
Various Government colleges, engineering colleges, polytechnics,
Industrial Training Institutes (ITIs) and universities gathered in
Bhopal for the signing ceremony. Several dignitaries attended the
ceremony including Vijendra Singh Sisodiya, Chairman, MP Urja Vikas
Nigam; Manu Srivastava, Principal Secretary, New and Renewable Energy
Department; Neeraj Mandloi, Principal Secretary, Higher Education
Department; Dr Sanjay Goyal, MD, MP Madhya Kshetra Vidyut Vitaran
Company; and Ajit Kumar, Commissioner, Higher Education Department.
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 “Our
sincere gratitude to MPUVNL for all the cooperation and support
extended. We are glad to contribute towards the expansion of solar by
the Government of Madhya Pradesh.”
Manu Srivastava, Principal Secretary, New and Renewable Energy
Department, said “We are glad to partner with Azure Power in meeting
the country’s renewable energy obligations. This step is an expression
of commitment of the Madhya Pradesh Government towards renewable energy
and its commitment to the improvement of educational institutions in the
state.”
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.
Forward Looking Statements
This press release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995. The
risks and uncertainties that could cause the Company’s results to differ
materially from those expressed or implied by such forward-looking
statements include: the availability of additional financing on
acceptable terms; changes in the commercial and retail prices of
traditional utility generated electricity; changes in tariffs at which
long term PPAs are entered into; changes in policies and regulations
including net metering and interconnection limits or caps; the
availability of rebates, tax credits and other incentives; the
availability of solar panels and other raw materials; its limited
operating history, particularly as a new public company; its ability to
attract and retain its relationships with third parties, including its
solar partners; its ability to meet the covenants in its debt
facilities; meteorological conditions and such other risks identified in
the registration statements and reports that the Company has filed with
the SEC from time to time. In the press release, megawatts portfolio
represents the aggregate megawatt capacity of solar power plants
pursuant to PPAs, signed or allotted or where the Company has been
cleared as one of the winning bidders or won reverse auction, but yet to
receive letter of allotment. All forward-looking statements in this
press release are based on information available to us as of the date
hereof, and the Company assumes no obligation to update these
forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181001005596/en/
Azure Power
Investor Relations
Nathan Judge, CFA
[email protected]
or
Marketing
Samitla
Subba
[email protected]
+91-11-
4940 9854
Source: Azure Power
