Azure Power, one of the largest solar independent power producer in India, announced that it has won a cumulative capacity of 130 MW worth solar projects. The projects includes a 100 MW utility scale power plant in Karnataka and a 30 MW solar rooftop with Indian Railways.
The 100 MW project was won in an auction conducted by Karnataka Renewable Energy Development Ltd (KREDL). The solar plant will be set up at Pavagada Solar Park, which is being developed by Karnataka Solar Power Development Corporation Limited (KSPCL). Azure Power will supply energy to local power distributor for 25 years at a tariff of INR 2.93 (0.046)/kWh. This brings Azure portfolio in Karnataka to about 250MW.
Another railway rooftop projects totaling 30 MW will be developed by the company’s rooftop subsidiary. Azure Roof Power will sell electricity for 25 years to various Indian Railway facilities across 12 states. Azure Power qualifies for a capital incentive from Indian Railways and the power will be sold at a weighted average levelized tariff of INR 4.74 (0.075)/kWh. With this new allocation, Azure Power has become the largest supplier of solar power to Indian Railways with a cumulative awarded capacity of 76 MW.
These new projects has brought the company’s total portfolio to over 1,720 MW.
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