Listed on the New York Stock Exchange, Azure Power holds a portfolio of more than 1.6 GW of solar power across India. (Photo Credit: Azure Power)
- Azure Power has brought a 100 MW solar power plant online in Telangana, India
- The project was auctioned by the National Thermal Power Corp. (NTPC) in 2016 and is part of the 350 MW awarded by the government utility back then
- The 100 MW project forms part of the National Solar Mission (NSM) Phase-II, Batch-II, Tranche-I
- Azure will provide clean power from this plant to NTPC for 4.67 INR ($0.0733) per kWh for a period of 25 years
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NTPC Awards Entire 250 MW Tendered In August 2017 To Azure Power At 3.14 INR ($0.0484)/kWh
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Indian independent solar power producer Azure Power has switched on a 100 MW solar power plant in the southern Indian state of Telangana. The project is part of the National Solar Mission (NSM) Phase-II, Batch-II, Tranche-I.
Azure won the project when the National Thermal Power Corp. (NTPC) auctioned 350 MW of capacity in Telangana in 2016 (see NTPC Telangana Winners). In this tender, all of the winners except for ReNew Power, which offered the lowest bid of 4.66 INR ($0.0731) per kWh, won capacities for 4.67 INR ($0.0733) per kWh. Azure has signed a power purchase agreement (PPA) to provide power for a period of 25 years.
“Telangana’s continued reliance and faith in solar energy has successfully transformed it into one of the largest solar power producing states in the country,” said Inderpreet Wadhwa, founder, chairman and CEO of Azure Power. “Our sincere gratitude goes to NTPC and the state of Telangana for all the cooperation and support extended.”
In October 2017, NTPC awarded the entire 250 MW of PV capacity it tendered under the domestic content requirement (DCR) category to Azure Power for a tariff of 3.14 INR ($0.0484) per kWh. The project can be installed anywhere in the country (see Azure Wins 250 MW NTPC Auction).
Only recently, Azure won 200 MW of capacity from the Solar Energy Corporation of India Ltd. (SECI) to be developed at Bhadla Solar Park for a tariff of 2.48 INR ($0.0386) per kWh (see SECI Awards 750 MW PV Capacity At Bhadla). Azure now holds a portfolio of more than 1,600 MW of solar power in India.