Azure Power sets up 40MW solar power plant in UP
Azure Power, one of India’s leading independent solar power producers, has announced the commissioning of a 40-megawatt (MW) solar power plant in Uttar Pradesh. Spread across an area of approximately 225 acres, the project has been set up under the government’s National Solar Mission Phase-II Batch-III Tranche III. The project was auctioned by the Solar Energy Corporation of India (SECI), a Government of India enterprise, which has an 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 Rs.4.92 (~US7.7 cents) per kWh, which is inclusive of Viability Gap Funding (VGF).
Speaking on this occasion, Inderpreet Wadhwa, Founder, Chairman & 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.”
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.
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