Independent power producer Azure Power has commissioned a 150 MW solar power plant at the Bhadla Solar Park in Rajasthan. The capacity will be the first phase of 200 MW allocated to Azure by the Solar Energy Corporation of India (SECI) which will act as offtaker for the power generated at a tariff of Rs2.48/kWh for 25 years.
With the new project included, Azure has 1.6 GW of operational solar assets. The company claims to have the most diversified solar portfolio in India in the nation’s best regions in terms of solar irradiation. The developer says it has projects in 24 states, including a leading solar rooftop portfolio of more than 200 MW of generation capacity, of which 81% were developed with sovereign counterparties.
The 260 MW scheme was secured in an auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL). Azure Power will provide power to GUVNL for 25 years for Rs2.67/kWh, a rate 8.6% higher than India’s record lowest bid in the market.
The 100 MW Karnataka project was secured in an auction conducted by Karnataka Renewable Energy Development Ltd and was developed at the Pavagada Solar Park – one of the largest in the world. The huge park is being developed by the Karnataka Solar Power Development Corporation Limited (KSPCL). Azure Power will supply power to the electricity supply companies of Karnataka for 25 years for Rs2.93/kWh – a 20.1% premium on the current market floor.