Azure Power Wins 200 MWs in SECI Auction
09 1월 2018 - 8:30PM
Business Wire
Azure Power (NYSE: AZRE), one of India’s leading independent
solar power producers, announced it has won a 200 megawatt (MW)
solar power project through an auction conducted by Solar Energy
Corporation of India (SECI), a Government of India enterprise and a
company with a AA+ debt rating by ICRA, a Moody’s Company. Azure
Power will sign a power purchase agreement with SECI to supply
power at a tariff of INR 2.48 (~US$ 0.04) per kWh for 25 years. The
solar plant will be set up at Bhadla Solar Park in Rajasthan and is
likely to be commissioned in 2019.
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Azure Power Solar Power Plant, 100 MW,
Rajasthan (Photo: Business Wire)
The 200 MW allocation is the largest by SECI in this auction,
80% of the total. Azure Power has a long history of developing and
operating solar power plants with SECI. In 2015, Azure Power
developed a 100 MW solar power plant outside a solar park in the
state of Rajasthan, which was SECI’s first allocation and also the
largest solar power project under India’s National Solar Mission at
commissioning. Today, Azure Power stands with over a 400 MW
portfolio with SECI.
Speaking on this occasion, Inderpreet Wadhwa, Founder,
Chairman and Chief Executive Officer, Azure Power said, “Our
long history of superior solar power operations with SECI right
from the inception of National Solar Mission has contributed to our
success of procuring one of the largest solar power contracts with
SECI. We 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 independent solar power
producer in India with a portfolio of over 1,600 MWs across several
states and 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, rooftop to mini & micro
grids, 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/20180109005817/en/
Azure PowerInvestor RelationsNathan Judge,
CFAir@azurepower.comorMarketingSamitla
Subbapr@azurepower.com+91-11- 4940 9854
Azure Power Global (NYSE:AZRE)
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