Azure Power fully commissions its 90 MW solar power project in Assam

Rhea-AI Summary

Azure Power (NYSE: AZRE) announced the successful commissioning of its 90 MW solar power project in Assam, marking the largest solar initiative in the state. The project spans four districts: Udalguri, Kamrup, Nagaon, and Cachar, with a total operational capacity exceeding 2,900 MW across India. The long-term PPA with Assam Power Distribution Company Limited ensures a tariff of INR 3.34 (~US 4.4 cents) per KWh for 25 years. Azure Power's efforts align with India's clean energy goals and the Assam government's vision for sustainable development by 2030.

Positive

• Successful commissioning of the largest solar project in Assam.
• Long-term PPA secured at a competitive tariff of INR 3.34 (~US 4.4 cents) per KWh.
• Increased operational capacity to over 2,900 MW, enhancing market position.

Negative

• None.

NEW DELHI, May 2, 2022 /PRNewswire/ -- Azure Power (NYSE: AZRE), a leading sustainable energy solutions provider and renewable power producer in India, announced that it has successfully commissioned its 90 MW solar power project in Assam, the largest in the state. The 90 MW capacity is spread across four districts in the state – Udalguri, Kamrup, Nagaon, and Cachar. The project was commissioned in phases, with the final 25 MW commissioned in Cachar. The power generated by the plant is being supplied to Assam Power Distribution Company Limited under a long term 25-year PPA at a tariff of INR 3.34 (~US 4.4 cents) per KWh.

Following this commissioning, Azure Power now has an operational capacity of over 2,900 MW of high-performing renewable energy assets in India.

"We are extremely proud of all our teams, especially those at the site. They have displayed tremendous dedication, and tenacity in the face of considerable execution challenges. The project will go a long way in meeting India's clean energy objectives," said Pawan Kumar Agrawal, CFO, Azure Power.

"Government of Assam has the vision to transform Assam into a sustainably developed state by 2030. Our project is a step forward in fulfilling this vision of the Government. In addition to meeting sustainability targets of the state, our project will also help in creating sustainable ecosystem by generating employment and revenue opportunities for local population," added Pawan.

About Azure Power

Azure Power is a leading independent sustainable energy solutions provider, and power producer in India on a mission to create value for all stakeholders through high-performance Renewable Energy assets.

We developed India's first utility scale solar project in 2009 and since then, Azure Power has grown rapidly to become a leader in developing and operating large utility-scale renewable energy projects in the country.

We also partner with commercial and industrial customers in their decarbonization journey by providing comprehensive solutions for their clean energy needs.

For more information about us, visit: www.azurepower.com

Investor Contact:
ir@azurepower.com 

Media Contact:
pr@azurepower.com

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SOURCE Azure Power

FAQ

What recent project did Azure Power (AZRE) commission in Assam?

Azure Power successfully commissioned a 90 MW solar power project, the largest in Assam.

What is the tariff for the power generated by Azure Power's Assam project?

The tariff is set at INR 3.34, approximately US 4.4 cents per KWh.

How much operational capacity does Azure Power have after the Assam project?

After the commissioning, Azure Power's operational capacity exceeds 2,900 MW.

How does Azure Power's project align with Assam's sustainability goals?

The project supports Assam's vision to achieve sustainable development by 2030.