Azure Power has a won a 5MW bidding conducted by the New & Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP) to supply solar power.
This is the largest allocation for this auction, 33% of the total. Azure Power will provide power for 25 years to various Government buildings in Andhra Pradesh. Azure Power qualifies for a capital incentive which results in a weighted average levelized tariff of INR 4.57 ($0.67) per kWh.
Azure Roof Power offers superior rooftop solar power solutions for commercial, industrial, government, and institutional customers in cities across India to lower their energy bill and meet their greenhouse gas (GHG) emission reduction targets. With nearly 200 MWs of high quality, operating and committed solar assets across 23 states, Azure Roof Power has one of the largest rooftop portfolios in the country.
Azure Roof Power has a well-diversified customer base with a majority of the portfolio contracted with Government of India backed entities. Azure Roof Power customers include large commercial real estate companies, a leading global chain of premium hotels, distribution companies in smart cities, warehouses, Delhi Metro Rail Corporation, Indian Railways, a Delhi water utility company and various Government of India Ministries.
Azure Roof Power deputy general manager Vishal Jain said “Azure Roof Power offers tremendous value to its customers within the solar rooftop category across various segments. Our solutions help lower the energy cost of customers and meet their greenhouse (GHG) emission reduction targets.
“Given our strong presence in Andhra Pradesh of 200MWs in the utility segment, our foray into rooftop in the state is a natural extension of our expertise in implementing solar power projects. With this win, we are glad to expand our presence in the state and make a contribution towards the initiative of the government of Andhra Pradesh to go solar.”
Source: Company Press Release