Solar power producer Azure Power has won a 600MW solar power project through an auction conducted by Government of India enterprise Solar Energy Corporation of India (SECI).
A total of 2,000MW was tendered in the auction.
It is said to be the first Interstate Transmission System (ISTS) grid-connected solar PV project auctioned by SECI.
Azure Power founder, chairman and CEO Inderpreet Wadhwa said: “We are pleased to announce our largest capacity win and with this, we continue to demonstrate our strong project development, engineering, and execution capabilities.
“Our long history of superior solar power operations right from the inception of the National Solar Mission has contributed to our success of procuring one of the largest solar power contracts with SECI.
“We are delighted to make this contribution towards the realisation of our Hon’ble Prime Minister’s commitment towards clean and green energy through solar power generation.”
Azure Power is set to sign a power purchase agreement (PPA) with SECI to supply power at a tariff of Rs2.53 (US 3.9 cents) per kWh for a period of 25 years.
With this new win, the company’s total portfolio is spread across 23 states in the country with nearly 80% of its operating or committed projects with counterparties.
Proposed for development outside a solar park anywhere in India, the project is expected to be commissioned by 2020.
Established in 2008, Azure Power is engaged in the development and construction of solar projects of varying sizes, ranging from utility-scale to microgrids.
The company constructed India’s first private utility-scale solar PV power plant in 2009, and implemented the first MW scale rooftop project under the smart city initiative in 2013.