Azure Power wins 50 MW solar project in SECI Auction

Azure Power, a leading solar power producer in India with a portfolio of over 1,000 MWs across 22 states/union territories, has announced that it has won a 50 MW solar project in an auction conducted by the Solar Energy Corporation of India (SECI), a company of the Ministry of New and Renewable Energy, Government of India.

This 50 MW allocation is the largest rooftop allocation done by SECI to a solar power developer, approximately 14 percent of the total allocated capacity of 360 MW announced. Azure Roof Power will provide power for 25 years to various Government of India buildings across states and union territories of Chandigarh, Chhattisgarh, Delhi, Haryana, Kerala, Odisha, Punjab, Rajasthan, Uttar Pradesh and West Bengal.

The power will be sold at a tariff range of INR 3.19 – 3.97 (US$ 0.05- 0.06) /kWh based on location. In addition, Azure Power qualifies for a capital incentive from SECI, which is expected to result in a weighted average tariff of INR 4.65 (~US $0.07) /kWh.
The company 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 19 states, Azure Roof Power has one of the largest rooftop portfolios in the country and a well-diversified customer base with majority portfolio contracted with Government of India backed entities.

Azure Roof Power customer base includes large commercial real estate companies, a leading global chain of premium hotels, distribution companies in smart cities, warehouses, Delhi Metro Rail Corporation, Indian Railways, Delhi water utility company in addition to several union ministries.

Commenting on the occasion, Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “Azure Roof Power offers tremendous value to our customers across various segments. We are pleased to announce our latest win with Solar Energy Corporation of India to electrify Government of India buildings across 10 states.

“With this win, we have once again demonstrated our strong project development capabilities and 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.”

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.