Azure Roof Power to Electrify 152 Schools under Ministry of Human Resource Development Across Six States
26 1월 2018 - 8:00PM
Business Wire
Azure Power (NYSE: AZRE), one of India’s leading independent
solar power producers, announced it has won a 11.35 megawatts (MWs)
solar rooftop power project. This is the largest allocation for
this auction, 60% of the total. Azure Power will sign the power
purchase agreement with Navodaya Vidyalaya Samiti, an autonomous
body under Ministry of Human Resource Development, Government of
India. Azure Power qualifies for a capital incentive from Navodaya
Vidyalaya Samiti, which is expected to result in a weighted average
levelized tariff of INR 4.97 (~US cents 7.7) per kWh. The solar
rooftops will be spread across 152 schools and six states,
including Uttar Pradesh, Madhya Pradesh, Rajasthan, Karnataka,
Chhattisgarh and Kerala.
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the full release here:
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Azure Roof Power Solar PV Plant (Photo:
Business Wire)
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 20 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, a Delhi water utility
company and various Government of India Ministries.
Speaking on this occasion, Inderpreet Wadhwa, Founder,
Chairman and Chief Executive Officer, Azure Power said “Azure
Power offers tremendous value to its customers within the solar
rooftop category across various segments. Azure Roof Power helps
lower the energy costs of its customers and meet their greenhouse
gas (GHG) emission reduction targets. In addition, it provides roof
owners with an assured stream of cash flows through lease rentals
or revenue share. Our long history of superior solar power
operations across various rooftop customer segments have helped us
win this project. In 2013, we built India’s first MW scale rooftop
project in Gandhinagar under the smart city initiative, while
recently, we have worked on electrifying various educational
institutes and Government of India facilities pan India.”
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/20180126005135/en/
Azure PowerInvestors:Nathan Judge, CFAInvestor
Relationsir@azurepower.comorMedia:Samitla Subba, +91-11-
4940 9854Marketingpr@azurepower.com
Azure Power Global (NYSE:AZRE)
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