News | May 5, 2016

Azure Power Commissions Four New Solar Plants Across Three Different States

New Delhi /PRNewswire/ - Azure Power, India's leading solar power company, announced its commissioning of solar power plants in three states. The projects include a 50 MW plant in Andhra Pradesh, two plants of total capacity of 28 MW plant in Punjab and a 10 MW plant in Karnataka. These plants, connected to the respective state grids, are part of Azure Power's 900+ MW portfolio in 15 states. This includes the country's largest operational solar plant of 100 MW under India's National Solar Mission in Rajasthan.

The Punjab plants were commissioned in a record period of under ten months from the signing of the Power Purchase Agreement, maintaining company's position as a leader with the largest portfolio in the state.

Speaking on this occasion, Mr. Inderpreet Wadhwa, Founder and Chief Executive Officer, Azure Power said, "We are delighted to make this contribution towards realization of our Honorable Prime Minister's commitment towards clean and green energy, through solar power generation. Our sincere gratitude to the governments of Andhra Pradesh, Punjab and Karnataka, for all the cooperation and support extended."

With the tariff ranging from INR 5.89 per kWh (with escalation) to INR 7.33 per kWh for these four plants, the company added 88 MW to its portfolio of high quality assets. On this he added, "With the commissioning of these plants we have once again demonstrated our strong project development, engineering and execution capabilities. We are proud to have successfully brought down the cost of power by almost 74% in 2016 from INR 17.91 per KWh in 2009."

Azure Power has been among the most active participants in several solar power auctions since the launch of solar power market in India.

About Azure Power:
Azure Power is a leader in the Indian solar industry. Azure Power developed India's first private utility scale solar project in 2009 and has been at the forefront of developments in the sector as a developer, constructor and operator of utility scale, micro-grid and rooftop solar projects since its inception in 2008. 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.

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SOURCE: Azure Power

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