Further, the project is the largest solar auction in India and also the first Interstate Transmission System (ISTS) grid connected solar PV project auctioned by SECI.
Country’s one of the leading independent solar power producers, Azure Power has won a 600 MW solar power project in the SECI’s 2,000 MW tender auction.
The Solar Energy Corporation of India (SECI) is a Government of India (GoI) enterprise and a company with an AA+ domestic debt rating by ICRA, a Moody’s company.
Further, the project is the largest solar auction in India and also the first Interstate Transmission System (ISTS) grid connected solar PV project auctioned by SECI.
Moreover, the company is expects to sign a 25-year Power Purchase Agreement (PPA) with SECI to supply power at a tariff of Rs 2.53 (~US 3.9 cents) per kWh, approximately 4 percent higher than the lowest bid in the same auction.
Furthermore, this project can be developed outside a solar park anywhere across the country and is expected to be commissioned by 2020.
Commenting on this project win, Azure Power, Founder, Chairman and CEO, Inderpreet Wadhwa said, “We are pleased to announce our largest capacity win and with this, we continue to demonstrate our strong project development, engineering, and execution capabilities Our long history of superior solar power operations right from the inception of the National Solar Mission has contributed to our success of procuring one of the largest solar power contracts with SECI. 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.”
