Azure Power revealed that it has won a 160MW solar power project in Uttar Pradesh, India during a recently held auction by the Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA).
The independent solar power producer bagged the rights for the solar plant by bidding a tariff of Rs3.55 ($0.052) per kWh, which it says is nearly 45% more than the lowest tariff bid for a solar power project in India.
Azure Power, in this regard, has signed a power purchase agreement (PPA) with the state’s electricity board Uttar Pradesh Power Corporation Limited (UPPCL), which will be valid for 25 years.
The new Azure Power solar power project in Uttar Pradesh, which will be developed outside a solar park, is slated to be brought into service in 2019.
Azure Power founder, chairman and CEO Inderpreet Wadhwa said: “We are pleased to announce our win in Uttar Pradesh, and with this we have once again demonstrated our strong project development, engineering, and execution capabilities.
“We 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.”
The latest project takes Azure Power’s solar portfolio in Uttar Pradesh to 260MW. Its first utility scale solar power project in the North Indian state was built in 2015.
In April, the company commissioned a 40MW solar power project in Uttar Pradesh, which it had won in an auction held by the Solar Energy Corporation of India (SECI).
Earlier this month, Azure Power had bagged a 600MW solar plant in another auction held by SECI. The solar power project could be built anywhere in India, outside a solar park and is scheduled to be commissioned by 2020.
Last month, Azure Power had been given an order to develop a 75MW solar power plant in the Northeastern Indian state of Assam. The Assam solar plant is supported by a 25-year PPA with Assam Power Distribution Company Limited (APDCL).