Azure Power signs MoU for 1,000MW power project in Rajasthan, India

23 December 2014 (Last Updated December 23rd, 2014 18:30)

Solar power firm Azure Power has signed a memorandum of understanding (MoU) with the Government of Rajasthan, a state in India, for developing a 1,000MW power project.

Solar power firm Azure Power has signed a memorandum of understanding (MoU) with the Government of Rajasthan, a state in India, for developing a 1,000MW power project.

The firm has already laid the foundation stone for a 100MW solar power plant in the state, which is scheduled to be commissioned by April 2015.

The solar project spans across 725 acres of land and is located at Hardhani and Nandia Kalan in Jodhpur.

The firm has won the 100MW project under National Solar Mission (NSM) – Phase II.

"The solar project spans across 725 acres of land and is located at Hardhani and Nandia Kalan in Jodhpur."

Once operational, the solar facility will generate enough electricity to power up to 100,000 households in the state.

Azure Power chairman HS Wadhwa said, "The Rajasthan Government, under the dynamic leadership of Hon’ble Chief Minister and high solar radiation in the state, have encouraged us to invest in such a scale.

"We look forward to providing our customers the highest degree of quality standards coupled with cheaper tariff.

"Azure has been successful in bringing the power cost from Rs17 in 2009 to Rs5.45 with viability gap funding in 2014."

The project has raised the power generation of the company under NSM to 142MW, and has turned it to be the largest private solar investor in the state having a combined capital of Rs13bn ($20.4m).