Azure Power Reaches New Milestone; Crosses 2 GW Solar Portfolio

As per the tender terms, the company will sign a 25 year Power Purchase Agreement (PPA) with Mahagenco at a tariff of Rs 3.07 (~US 4.7 cents) per kWh.

Yet adding another feather in the cap, Indian solar power producer, Azure Power, has enhanced its portfolio by crossing the 2 GW milestone by winning four 50 MW projects for a cumulative capacity of 200 MWs in Maharashtra.

The solar power project was auctioned by the Maharashtra Government owned Maharashtra State Power Generation Co. Ltd. (Mahagenco).

As per the tender terms, the company will sign a 25 year Power Purchase Agreement (PPA) with Mahagenco at a tariff of Rs 3.07 (~US 4.7 cents) per kWh.

Further, the project will be developed outside a solar park and is expected to be commissioned in 2019.

These 200 MWs won are in addition to the recently 130 MWs won with Maharashtra State Electricity Distribution Company Limited (MSEDCL) in Maharashtra, bringing the company’s total portfolio to 337 MWs, making the company one of the largest solar power suppliers to the state.

Commenting on the milestone achievement, Azure Power, Founder, Chairman and Chief Executive Officer, Inderpreet Wadhwa said, “We started with the vision of providing affordable solar power for generations and the mission to be the lowest cost power producer in the world. Through our collective efforts and support from our stakeholders, we have achieved this important milestone of crossing a 2 GW portfolio through large scale, mini/micro grid and rooftop solutions across the entire country. This achievement is a testament to 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.”