Azure Power commissioned over 500 MW of solar power projects in FY19

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Independent solar power producer Azure Power has commissioned a cumulative capacity of over 500 MW since last fiscal year, bringing its total operational portfolio to over 1,400 MW. All utility-scale projects commissioned since the past fiscal year were commissioned ahead of schedule.

Over the last three months alone, Azure Power commissioned over 250 MW, among the highest installations by a company in this period.

Recently commissioned projects include the final phase of a 260 MW solar project in Gujarat and a 100 MW solar project in Karnataka.

The 260 MW project was won in an auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL), and has been developed outside solar park. Azure Power will provide power to GUVNL for 25 years at a tariff of Rs 2.67 (US 3.9 cents) per kWh, which is 8.6% higher than the lowest bid in the market. With the commissioning of this project, Azure Power’s operational capacity in Gujarat is now over 270 MW, largest in the state by a single company.

The 100 MW project was won in an auction conducted by Karnataka Renewable Energy Development Ltd and has been set up at Pavagada Solar Park—one of the largest solar parks in the world. The solar park is being developed by Karnataka Solar Power Development Corporation Limited (KSPCL). Azure Power will supply power to the electricity supply companies of Karnataka for 25 years at a tariff of Rs 2.93 (US 4.6 cents) per kWh, which is 20.1% higher than the lowest bid in the market.

Earlier this fiscal year, Azure Power had commissioned a 40 MW project in Uttar Pradesh, a 50 MW project in Andhra Pradesh and over 60 MW of solar rooftop projects.