Azure Power Wins 260 MW Solar Power Project in Gujarat
26 9월 2017 - 8:00PM
Business Wire
- Azure Power wins 260 MWs, highest
allocation of recent 500 MW auction in the state of
Gujarat
Azure Power (NYSE: AZRE), a leading independent solar power
producer in India, announced that it has won a 260 MW solar project
in an auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL).
The 260 MW allocation is the largest allocation by GUVNL to a solar
power developer, 52% of the total allocated capacity of 500 MW
announced. Azure Power will provide power for 25 years to GUVNL
which has been rated AA- by ICRA, a Moody’s company, at a tariff of
INR 2.67 (~US$ 0.04) per kWh. The project will be developed by
Azure Power outside a solar park and is likely to be commissioned
in 2019.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20170926005915/en/
Azure Power Solar Power Plant (Photo:
Business Wire)
Azure Power has a long history of developing and operating solar
power plants under the Gujarat Solar Policy 2009. Some of the first
solar projects in India were built in Gujarat given several
advantages the state has including high levels of solar radiation,
an extensive and stable electric grid network, and the strong
credit quality of its DISCOM, GUVNL. Azure Power developed and is
operating India’s first MW-scale distributed solar rooftop project
in Gujarat’s state capital city, Gandhinagar. In 2013,World Bank
recognized this project as one of the Top 10 public-private
partnerships in the Asia Pacific region.
Speaking on this occasion, Inderpreet Wadhwa, Founder,
Chairman and Chief Executive Officer, Azure Power said, “Our
long history of superior solar power operations in Gujarat right
from the inception of Gujarat’s Solar Policy 2009 has contributed
to our success of procuring the largest solar power contract
auctioned by Gujarat. We are delighted to make a contribution
towards the 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 1,300 MWs across 22 states/union territories.
With over 150 MWs of high quality rooftop 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.
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/20170926005915/en/
Azure PowerInvestor ContactNathan Judge,
CFAInvestor Relationsir@azurepower.comorMedia ContactSamitla
SubbaMarketingpr@azurepower.com+91-11- 4940 9854
Azure Power Global (NYSE:AZRE)
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