Azure Power, an independent solar power producer in India, has won four 50MW projects for a cumulative capacity of 200MW in the state of Maharashtra.

Solar power plant

Image: Solar farm. Photo: Courtesy of haak78/FreeImages.com.

The solar power project was auctioned by the Maharashtra State Power Generation Co (Mahagenco), which is owned by the state government.

The company said it will sign a 25-year power purchase agreement (PPA) with Mahagenco at a tariff of INR3.07 (4.7 cents) per kWh.

The project, which will be developed outside a solar park, is expected to be commissioned in 2019.

Recently, Azure Power has won 130MW projects from the Maharashtra State Electricity Distribution Company (MSEDCL), bringing the company’s total portfolio to 337MW.

With the four 50MW projects, Azure Power said that its portfolio has crossed the 2GW milestone.

Azure Power founder, chairman and CEO Inderpreet Wadhwa said: “We started with the vision of providing affordable solar power for generations and the mission to be the lowest cost power producer in the world.

“Through our collective efforts and support from our stakeholders, we have achieved this important milestone of crossing a 2GW portfolio through large scale, mini/micro grid and rooftop solutions across the entire country.

“This achievement is a testament to our strong project development, engineering, and execution capabilities. We are delighted to make this contribution towards the realization of our Prime Minister’s commitment towards clean and green energy, through solar power generation.”

Founded in 2008, Azure Power provides low-cost solar power solutions through its in-house EPC expertise and operations and maintenance capability.

The company has developed India’s first private utility-scale solar plant, a 2MW plant in Awan Punjab, and also implemented the first MW-scale rooftop project under the smart city initiative in 2013.

Over the last decade, the company has installed more than 1,000MW of solar capacity across 23 states in India.

The company is backed by investors such as CDPQ, IFC, HelionVenture Partners, Foundation Capital, PROPARCO, DEG and Netherlands Development Finance Company.