This is the largest solar power project in India, owned and operated at a single location by any developer. Azure Power has commissioned this project in phases, with the last 100 MWs commissioned this month
Azure Power, a independent sustainable energy solutions provider in India, announced the successful commissioning of its largest project- 600 MWs Interstate Transmission System (ISTS) connected solar project, allocated by Solar Energy Corporation of India (SECI). The project is in Bikaner, Rajasthan and the power generated from the project will be supplied to SECI at a tariff of INR 2.53 (~US 3.5 cents) per kWh for 25 years.
“It is an incredible way to start the new year. Since this project was initiated around the onset of Covid-19 in India, we faced several challenges amid lockdowns and safety concerns. Despite the challenges and while prioritising the health and safety of all our employees and communities, we have managed to deliver high performing assets and are extremely proud of achieving yet another milestone in our journey towards a more resilient and sustainable future,” says Ranjit Gupta, MD and CEO, Azure Power.
Azure Power has commissioned this project in phases, with the last 100 MWs commissioned this month. Following this, Azure Power has 2510 MWs of high-performing operational solar assets spread across the country. This is the largest solar power project in India, owned and operated at a single location by any developer.
The company had recently signed a binding agreement to sell its non-core solar rooftop portfolio to Radiance Renewables Pvt. Ltd. (Radiance) for a total consideration of INR 5,365 million (US$ 73.5 million). KPMG was the financial advisor and Trilegal was counsel to Azure Power on this transaction. Azure Power had also recently signed its largest ever Power Purchase Agreements (PPAs) with Solar Energy Corporation of India (SECI) for a capacity of 2,333 MW of ISTS connected solar power projects under the 4 GW manufacturing linked projects.
“We are pleased with our progress on the 4 GW projects with SECI. This is the largest capacity PPA ever for Azure Power in its decade long journey in the renewable energy sector and provides us with an incredible opportunity to support India’s resolve on climate change and being a destination of choice for global investments,” Gupta had said.
