Azure Power bags 200MW solar project in SECI Auction

Azure Power has 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 Rs.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 200MW 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 100MW 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 400MW portfolio with SECI.

Inderpreet Wadhwa, Founder, Chairman & CEO, Azure Power, said, “Our long history of superior solar power operations with SECI right from the inception of 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 realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation.”

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