Azure Power Commissions 40 MW Project in Uttar Pradesh
17 4월 2018 - 7:30PM
Business Wire
Azure Power (NYSE: AZRE), one of India’s leading independent
solar power producers, announced the commissioning of a 40-megawatt
(MW) solar power plant in the state of Uttar Pradesh. Spread across
an area of approximately 225 acres, the project has been setup
under the government’s National Solar Mission Phase-II Batch-III
Tranche III. The project was auctioned by Solar Energy Corporation
of India (SECI), a Government of India enterprise which has a AA+
debt rating by ICRA, a Moody’s company. Azure Power will supply
power to SECI for the next 25 years at a levelized tariff of INR
4.92 (~US 7.7 cents) per kWh, which is inclusive of Viability Gap
Funding (VGF).
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the full release here:
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Azure Power Solar Plant (Photo: Business
Wire)
Uttar Pradesh is the most populous state in India and has a
large peak energy supply deficit, according to the Central
Electricity Authority. In addition, CRISIL projects that over 10
million unelectrified households will be connected by 2019. Azure
Power is one the largest solar developers in Uttar Pradesh and
built the first utility scale solar project in Uttar Pradesh in
2015.
Speaking on this occasion, Inderpreet Wadhwa, Founder,
Chairman and Chief Executive Officer, Azure Power said, “With
the commissioning of this plant, we have once again demonstrated
our strong project development, engineering, and execution
capabilities. 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. Our sincere
gratitude to SECI and the state of Uttar Pradesh for all the
cooperation and support extended.”
About Azure Power Azure
Power (NYSE: AZRE) is a leading independent solar power with a
pan-Indian portfolio. 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. In the press release, portfolio
represents the aggregate megawatt capacity of solar power plants
pursuant to PPAs, signed or allotted or where the Company has been
cleared as one of the winning bidders or won a reverse auction but
has yet to receive a letter of allotment. 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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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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