Azure Power (NYSE: AZRE), a leading independent solar power producer in India, announced that it has won a 1.3 MW solar rooftop project in an auction conducted by NTPC Vidyut Vyapar Nigam (NVVN), a wholly owned subsidiary of the National Thermal Power Corporation (NTPC). Azure Power will provide power for 25 years to Ministry of Health and Family Welfare, Government of India facilities in the states and union territories of Delhi, Puducherry, Uttar Pradesh, West Bengal and Assam. The power will be sold at a tariff range of INR 3.19 – 4.11 (~US$ 0.05- 0.06) per kWh based on location. In addition, Azure Power qualifies for a capital incentive which is expected to result in a weighted average levelized tariff of INR 5.29 (~US$0.08) per kWh.
Azure Roof Power offers superior rooftop solar power solutions for commercial, industrial, government, and institutional customers in cities across India to lower their energy bill and meet their greenhouse gas (GHG) emission reduction targets. With over 150 MWs of high quality, operating and committed solar assets across 20 states, Azure Roof Power has one of the largest rooftop portfolios in the country. Azure Roof Power has a well-diversified customer base with majority portfolio contracted with Government of India backed entities. Azure Roof Power customers include large commercial real estate companies, a leading global chain of premium hotels, distribution companies in smart cities, warehouses, Delhi Metro Rail Corporation, Indian Railways, a Delhi water utility company and various Government of India Ministries.
Commenting on the occasion, Mr Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “Azure Roof Power offers tremendous value to our customers across various segments. We are pleased to announce our latest win with NVVN to electrify Ministry of Health and Family Welfare facilities across five states. With this win, we have once again demonstrated our strong project development capabilities and are delighted to make this contribution towards the realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation.”