Azure Power secures up to 4 GW of solar project capacity under manufacturing-linked tender
The NYSE-listed developer will set up a 500 MW cell and module production line as its manufacturing commitment under the SECI tender. The tender aimed to secure 2 GW of new annual manufacturing capacity by offering 7 GW of power project permits. Azure has an agreement with an Indian solar panel manufacturer to jointly establish the new production facilities with the developer holding a majority stake in the enterprise.
Troubled manufacturing-linked solar tender now reportedly oversubscribed
A new series of tweaks by the Solar Energy Corporation of India appear to have paid off, as the organization’s ambitious manufacturing-linked 7 GW solar tender has reportedly ended up oversubscribed by 1 GW.
Azure Power to raise US $75 million equity from Canadian investor CDPQ
The investment will increase Caisse de dépôt et placement du Québec’s equity stake in the NYSE-listed solar developer to 49.4% from current 41.4%.
Azure Power wins 300 MW ISTS SECI solar project
The NYSE-listed solar developer now has 1.5 GW of interstate transmission system projects with sovereign counterparties—the largest such portfolio in India.
750 MW Rajasthan tender attracts low bids of Rs 2.5/kWh
The tariffs are slightly above Rs2.48/kWh seen in March procurement but still fairly below the levels hit in Maharashtra and Gujarat auctions recently—reaffirming the state’s attractiveness to PV developers.
Latest 1.2 GW of solar capacity awarded at Rs2.54 ahead of safeguarding duty fall
SECI’s 1.2 GW solar auction saw four companies – Ayana Renewable, ReNew Power, Azure Power and Mahindra Susten – secure a combined capacity of 1.15 GW at Rs2.54/kWh. Avaada Energy won the remaining 50 MW, at Rs2.55.
Azure Power turns a profit
The NYSE-listed developer appears to have turned the corner after reporting a full year profit of Rs138,493 after a Rs10 lakh loss a year ago. Borrowings are on the rise though, as the company plans to drum up an ever larger project portfolio.
SECI extends 3 GW bid deadline once again
State-owned Solar Energy Corp. of India (SECI) has once again extended the bid submission deadline for its latest 3 GW, manufacturing-linked solar tender, following a tepid response.
Azure Power commissions 150 MW project at the Bhadla Solar Park
The independent power producer now has 1.6 GW of operational solar assets. Other recently commissioned Azure projects include the final phase of a 260 MW solar project in Gujarat and a 100 MW facility in Karnataka.
Azure surpasses 100 MW of operating solar rooftop capacity
Independent solar power producer Azure Power’s operational rooftop capacity has a levelized weighted average tariff of Rs 5.82 (US 8.4 cents) per kWh—139% higher than the lowest solar power bid in India.
