CORRECTING and REPLACING Azure Roof Power to Electrify Government of India Buildings Across 10 States
15 9월 2017 - 11:36PM
Business Wire
- 50 MW allocation to Azure Power is
the largest solar rooftop allocation by Solar Energy Corporation of
India (SECI) to supply power to Government buildings, approximately
14% of the total allocated capacity of 360 MW announced
Sub Headline should read: 50 MW allocation to Azure Power is
the largest solar rooftop allocation by Solar Energy Corporation of
India (SECI) to supply power to Government buildings, approximately
14% of the total allocated capacity of 360 MW announced
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View the full release here:
http://www.businesswire.com/news/home/20170915005421/en/
Azure Power | New York Stock Exchange
(Photo: Business Wire)
The corrected release reads:
AZURE ROOF POWER TO
ELECTRIFY GOVERNMENT OF INDIA BUILDINGS ACROSS 10
STATES
- 50 MW allocation to Azure Power is
the largest solar rooftop allocation by Solar Energy Corporation of
India (SECI) to supply power to Government buildings, approximately
14% of the total allocated capacity of 360 MW announced
Azure Power (NYSE:AZRE), a leading solar power producer in
India, announced that it has won a 50 MW solar project in an
auction conducted by Solar Energy Corporation of India (SECI), a
company of the Ministry of New and Renewable Energy, Government of
India. This 50 MW allocation is the largest rooftop allocation by
SECI to a solar power developer, approximately 14% of the total
allocated capacity of 360 MW announced. Azure Roof Power will
provide power for 25 years to various Government of India buildings
across states and union territories of Chandigarh, Chhattisgarh,
Delhi, Haryana, Kerala, Odisha, Punjab, Rajasthan, Uttar Pradesh
and West Bengal. The power will be sold at a tariff range of INR
3.19 - 3.97 (US$ 0.05- 0.06) /kWh based on location. In addition,
Azure Power qualifies for a capital incentive from SECI, which is
expected to result in a weighted average levelized tariff of INR
4.65 (~US $0.07) /kWh.
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 19 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 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, Delhi water utility
company and various Government of India Ministries.
Commenting on the occasion, Mr Inderpreet Wadhwa,
Founder, Chairman and Chief Executive Officer, Azure Power
said, “Azure Roof Power offers tremendous value to our customers
across various segments. We are pleased to announce our latest win
with Solar Energy Corporation of India to electrify Government of
India buildings across 10 states. With this win, we have once again
demonstrated our strong project development capabilities and 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.”
About Azure Power
Azure Power (NYSE:AZRE) is a leading solar power producer in
India with a portfolio of over 1,000 MWs across 22 states/union
territories. 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.
Forward Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of
1934, as amended and the Private Securities Litigation Reform Act
of 1995, including statements regarding the Company’s future
financial and operating guidance, operational and financial results
such as estimates of nominal contracted payments remaining and
portfolio run rate, and the assumptions related to the calculation
of the foregoing metrics. The risks and uncertainties that could
cause the Company’s results to differ materially from those
expressed or implied by such forward-looking statements include:
the availability of additional financing on acceptable terms;
changes in the commercial and retail prices of traditional utility
generated electricity; changes in tariffs at which long term PPAs
are entered into; changes in policies and regulations including net
metering and interconnection limits or caps; the availability of
rebates, tax credits and other incentives; the availability of
solar panels and other raw materials; its limited operating
history, particularly as a new public company; its ability to
attract and retain its relationships with third parties, including
its solar partners; its ability to meet the covenants in its debt
facilities; meteorological conditions and such other risks
identified in the registration statements and reports that the
Company has filed with the U.S. Securities and Exchange Commission,
or SEC, from time to time. All forward-looking statements in this
press release are based on information available to us as of the
date hereof, and the Company assumes no obligation to update these
forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170915005421/en/
Azure PowerInvestor ContactNathan Judge,
CFAir@azurepower.comInvestor RelationsorMedia ContactSamitla
Subbapr@azurepower.com+91-11- 4940 9854Marketing
Azure Power Global (NYSE:AZRE)
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