Azure Power Wins 250 MW Solar Power Project with AAA Rated NTPC
16 10월 2017 - 9:30PM
Business Wire
- Allocated 100% of the total capacity
in a recent auction by NTPC Vidyut Vyapar Nigam (NVVN)
- Over 580 MWs of high quality solar
projects won recently increasing Azure Power’s portfolio by over
50%
Azure Power (NYSE: AZRE), a leading independent solar power
producer in India, announced that it has won a 250 megawatt (MW)
solar project in an auction conducted by NTPC Vidyut Vyapar Nigam
(NVVN). NVVN is a wholly owned subsidiary of the Government of
India’s largest power utility, National Thermal Power Corporation
(NTPC), which received a AAA debt rating from CRISIL, a Standard
& Poor’s Company. Azure Power will provide power to NVVN at a
tariff of INR 3.14 (~US$ 0.05) per kWh for 25 years and the solar
PV project(s) can be located anywhere in India, which will be
outside a solar park. With this win, Azure Power will now be the
largest provider of solar power to AAA-rated NTPC and its
subsidiaries.
This press release features multimedia. View
the full release here:
http://www.businesswire.com/news/home/20171016005617/en/
Azure Power Solar Power Plant (Photo:
Business Wire)
Speaking on this occasion, Inderpreet Wadhwa, Founder,
Chairman and Chief Executive Officer, Azure Power said, “Our
long history of superior solar power operations with NTPC Vidyut
Vyapar Nigam right from the inception of National Solar Mission has
contributed to our success of procuring the one of the largest
solar power contract auctioned by NTPC. 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 independent solar power
producer in India with a portfolio of over 1,600 MWs across 23
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/20171016005617/en/
Investor ContactNathan Judge,
CFAir@azurepower.comInvestor Relations, Azure PowerorMedia
ContactSamitla Subbapr@azurepower.com+91-11- 4940
9854Marketing, Azure Power
Azure Power Global (NYSE:AZRE)
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