The PV plant will be the nation’s largest once complete, and will be implemented under the International Finance Corporation’s Scaling Solar program.
As of December 31, 2017, Azure power has 1,580 MW operating & committed capacity, an increase of 48% over December end 2016. Revenue for the third quarter was INR 1,739.9 million ($27.3 million), an increase of 83% over the quarter ended December 31, 2016. The company’s adjusted EBITDA for the quarter was INR 1,226.9 million (US$19.2 million), an increase of approximately 76% over the fiscal third quarter 2017.
The renewable energy developer will build a 100 MW solar farm in India’s Tamil Nadu for a major utility, and an additional 60 MW solar plant in Karnataka for an independent power producer.
The KREDL tender for a 55 MW solar project was won by a joint venture between Think Energy and EverStream Capital Management. The JV has also won 23.39 MW of rooftop capacity under a SECI auction.
The Institute for Energy Economics and Financial Analysis (IEEFA) has stated that Tamil Nadu is India’s national model for low-cost renewable electricity generation. It finds that the state has the capability to increase its solar capacity six-fold in the next 10 years.
Solar tops the installation list in 2017-18 with 264 MW of capacity commissioned to surpass wind for the period. Wind power remains leading renewable resource, as of January 31, 2018.
One of India’s leading solar EPC companies, Mahindra Susten has commissioned a 2.2 MW rooftop solar PV plant for a textile factory in Bhawanimandi, Rajasthan. The company claims it is the largest rooftop plant in the desert state.
Larsen & Toubro Construction will install two 100 MW each solar power plants in the states of Tamil Nadu and Rajasthan.
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