Azure Power, one of India’s leading independent solar power producers, announced the commissioning of a 100-megawatt (MW) solar power plant in the state of Telangana.
Spread across an area of approximately 500 acres, the project has been set up under the government’s National Solar Mission Phase-II, Batch-II Tranche-I.
The project was auctioned by NTPC, which has an AAA debt rating and is the Government of India’s largest power utility. Azure Power will supply power to NTPC for the next 25 years at a tariff of INR 4.67 (~USD 0.07) per kWh.
Speaking on this occasion, Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “Telangana’s continued reliance and faith in solar energy has successfully transformed it into one of the largest solar power producing states in the country. We are delighted to make a contribution towards the realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation. Our sincere gratitude to NTPC and the state of Telangana for all the cooperation and support extended.”
Recently Azure Power announced that it won a 200 megawatt (MW) solar power project through an auction conducted by Solar Energy Corporation of India (SECI), a Government of India enterprise and a company with a AA+ debt rating by ICRA, a Moody’s Company.
Azure Power will sign a power purchase agreement with SECI to supply power at a tariff of INR 2.48 (~US$ 0.04) per kWh for 25 years. The solar plant will be set up at Bhadla Solar Park in Rajasthan and is likely to be commissioned in 2019.
The 200 MW allocation is the largest by SECI in this auction, 80% of the total. Azure Power has a long history of developing and operating solar power plants with SECI. In 2015, Azure Power developed a 100 MW solar power plant outside a solar park in the state of Rajasthan, which was SECI’s first allocation and also the largest solar power project under India’s National Solar Mission at commissioning. Today, Azure Power stands with over a 400 MW portfolio with SECI.
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