Independent power producer (IPP) Azure Power has announced it won the bid for a 75 MW solar PV project in Assam. The company will sign a 25-year power purchase agreement (PPA) with Assam Power Distribution Company Limited (APDCL), at a weighted tariff of INR3.37/kWh. Azure power says it is aiming to commission the project next year.
According to the company’s statement, the north-eastern state of Assam has been struggling to meet electricity demand and suffered an energy shortage of 4.2% as demand rose 9% during 2017.
Inderpreet Wadhwa, Founder, Chairman and CEO of Azure Power, said: “We are pleased to announce our win in Assam and with this, we continue to demonstrate our strong project development, engineering, and execution capabilities.”
In January, the government of Assam issued a gazette stating a target to install an additional 590 MW of solar PV by 2019-2020. According to the document, all utility scale solar power will be sold through 25-year PPAs to APDCL, with the state government providing a guaranteed payment mechanism to PV project investors. The PPAs will be brokered by APDCL on an independent, competitive basis.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.