IFC And EU Banks Lends $135 m To Azure Power

With over 2,000 MW solar portfolio, Azure Power has raised, $135 million from International Finance Corporation, a private lending arm of the World Bank, and three European development banks.

The proceeds will be used to finance approximately 200 MWs of Azure Power’s solar rooftop projects across India. This financing will enable the company to rapidly expand  Azure Roof Power platform in India.

The rooftop business of Azure Power caters to commercial, industrial, government, and institutional customers and has 190 MWs of operating and under commission solar assets across 23 States. Delhi Metro Rail Corporation, Indian Railways, a Delhi water utility company and various Government of India Ministries are among some of the company’s major customers.