Azure Power Taps IBRD (World Bank) Loan to Scale its Azure Roof Power Platform
15 6월 2017 - 11:30PM
Business Wire
Azure Power (NYSE: AZRE), a leading independent solar power
producer in India, has been granted INR 678.3 (US$ ~10.5) million
of low-cost debt financing through the SBI-World Bank: Grid
Connected Rooftop Solar PV Program. The loan is for 15 years with
an interest rate of 8.35% per annum, one of the lowest interest
rates availed by a solar power developer in the Indian solar sector
to date. The loan will be utilized to scale Azure Roof Power, Azure
Power’s solar rooftop platform.
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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 100 MWs of high quality, operating and committed solar assets
across 14 states, Azure Roof Power has one of the largest rooftop
portfolios in the country. 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 and a Delhi water utility
company.
Speaking on this occasion, Inderpreet Wadhwa, Chairman, and
Chief Executive Officer, Azure Power said, “We are pleased
to announce our partnership with SBI and World Bank which will
enable us lower the energy bills of our customers by providing
clean and sustainable solar energy. We are excited to expand our
Azure Roof Power platform in India with the support of SBI and
World Bank.”
Under the SBI-World Bank: Grid Connected Rooftop Solar PV
Program, the World Bank and the International Bank for
Reconstruction and Development (IBRD) approved a line of credit of
$625 million to support the Government of India’s goal to expand
rooftop solar to 40,000 MWs.
About Azure Power
Azure Power (NYSE: AZRE) is a leading solar power producer in
India with a portfolio of over 1,000 MWs across 18 states. With
over 100 MWs of high quality, operating and committed solar assets,
the company has one of the largest rooftop portfolios in the
country. With its in-house engineering, procurement and
construction expertise and advanced in-house operations and
maintenance capability, Azure Power provides low-cost and reliable
solar power solutions to customers throughout India. It has
developed, constructed and operated solar projects of varying
sizes, from utility scale to rooftop, since its inception in 2008.
Highlights include the construction of India’s first private
utility scale solar PV power plant in 2009 and the implementation
of the first MW scale rooftop project under the smart city
initiative in 2013.
For more information, visit: www.azurepower.com.
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Investor ContactNathan Judge,
CFAir@azurepower.comInvestor Relations, Azure PowerorMedia
ContactSamitla Subbapr@azurepower.com+91-11- 4940
9854Marketing, Azure Power
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