Azure Roof Power to electrify 152 Schools under Ministry of HRD

Azure Power has won a 11.35-megawatt (MW) solar rooftop power project. This is the largest allocation for this auction, 60% of the total. Azure Power will sign the power purchase agreement with Navodaya Vidyalaya Samiti, an autonomous body under the Ministry of Human Resource Development, Government of India. Azure Power qualifies for a capital incentive from Navodaya Vidyalaya Samiti, which is expected to result in a weighted average levelized tariff of Rs.4.97 (~US cents 7.7) per kWh. The solar rooftops will be spread across 152 schools and six states, including Uttar Pradesh, Madhya Pradesh, Rajasthan, Karnataka, Chhattisgarh and Kerala.

Azure Roof Power offers superior rooftop solar power solutions for commercial, industrial, government and institutional customers in cities across India to lower their energy bill and meet their greenhouse gas (GHG) emission reduction targets. With over 150 MWs of high- quality, operating and committed solar assets across 20 states, Azure Roof Power has one of the largest rooftop portfolios in the country. Azure Roof Power has a well-diversified customer base with majority portfolio contracted with the Government of India-backed entities. Azure Roof Power customers include large commercial real-estate companies, a leading global chain of premium hotels, distribution companies in smart cities, warehouses, Delhi Metro Rail Corporation, Indian Railways, a Delhi water utility company and various GoI Ministries.

Inderpreet Wadhwa, Founder, Chairman & Chief Executive Officer, Azure Power, said, “Azure Power offers tremendous value to its customers within the solar rooftop category across various segments. Azure Roof Power helps lower the energy costs of its customers and meet their greenhouse gas (GHG) emission reduction targets. In addition, it provides roof owners with an assured stream of cash flows through lease rentals or revenue share. Our long history of superior solar power operations across various rooftop customer segments has helped us win this project. In 2013, we built India’s first MW scale rooftop project in Gandhinagar under the smart city initiative, while, recently, we have worked on electrifying various educational institutes and Government of India facilities pan India.”