Azure Power, an independent power producer in India’s solar power sector, has announced that it has signed 150 MW solar power implementation agreement with Punjab Energy Development Agency’s (PEDA) under its Solar Policy Phase III. This is the fifth consecutive win in Punjab, making Azure Power the largest owner and operator in the state with a total of 225 MW capacity under various stages.
A total of 1650 MW of bids were submitted by 18 companies for the total tender capacity of 500 MW.2 The power will be procured by the Punjab Power Corporation, which has been rated A+ by ICRA.3
Speaking on this occasion, Mr. Inderpreet Wadhwa, Founder and CEO, Azure Power, said, “We have consistently demonstrated 100% win rate in the Punjab state auctions and are the longest tenured private solar power operator in the country. We have won 150MW at INR 5.63/KWh while the lowest bid was INR 5.09/kWh.”
“We are also delighted to make this contribution towards realization of our Honorable Prime Minister’s commitment towards clean and green energy, through solar power generation,” he added.
In June this year, Azure Power commissioned the largest solar power project under the National Solar Mission, a 100 MW plant in Rajasthan, India.
This post was prepared by Solar Thermal Magazine staff.