Azure Power has submitted a bidding of INR2.67 ($0.04) per kWh, which is claimed to be the lowest bidding for a solar project in the country.
Recently, Gujarat Urja Vikas Nigam (GUVNL) had conducted an auction with an allocation capacity of 500 MW. Azure Power has been selected to build about 52% of the total allocated capacity.
According to Azure Power, the solar project is expected to be completed in 2019 and when it is commissioned, the clean electricity generated from the project will be sold to GUVNL for a period of 25 years.
Azure Power founder, chairman and CEO Inderpreet Wadhwa said: “Our long history of superior solar power operations in Gujarat right from the inception of Gujarat’s Solar Policy 2009 has contributed to our success of procuring the largest solar power contract auctioned by Gujarat.
“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.”
Azure Power claims that it has been building solar projects in the state of Gujarat for several years now under the Gujarat Solar Policy 2009. It also claims that some of the first solar projects in the country were built in the state, to take advantage of the high solar irradiance, an extensive and stable electric grid network.
The company had built its first megawatt-scale solar distributed rooftop project in Gujarat’s capital city, Gandhinagar.
Recently, Azure Power had commissioned a 50 MW solar project in the northern state of Uttar Pradesh in the country. The solar project will provide power at a tariff of INR4.78 ($0.07) per kWh to NTPC, the state-run power utility in India for a period of 25 years.
Image: Azure Power to construct 260MW solar plant in India. Photo: Courtesy of Business Wire.
