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Azure Power Global Limited (NYSE: AZRE) is a leading independent solar power producer driving India's renewable energy transition through utility-scale and rooftop projects. This page provides investors and stakeholders with timely updates on corporate developments, financial announcements, and operational milestones.
Access official press releases, project commissioning updates, and strategic partnership announcements in one centralized location. Our news collection covers earnings reports, regulatory filings, technology innovations, and sustainability initiatives directly from the company.
Key updates include solar capacity expansions, power purchase agreements, operational performance metrics, and leadership developments. Content is organized chronologically to help track the company's progress in India's growing renewable energy sector.
Bookmark this page for streamlined access to Azure Power's latest announcements. Check regularly for updates on new project commissions, financial disclosures, and strategic moves shaping India's solar energy landscape.
On January 3, 2022, Azure Power (NYSE: AZRE) announced the commissioning of its 600 MW Interstate Transmission System (ISTS) connected solar project in Bikaner, Rajasthan. This project, allocated by the Solar Energy Corporation of India (SECI), is the largest single-site solar power project in India, generating electricity at a tariff of INR 2.53 (approximately US 3.5 cents) per kWh for 25 years. The last 100 MW of the project was commissioned this month, adding to Azure Power's total of 2510 MW of operational solar assets across the country.
Azure Power Global Limited (NYSE: AZRE) provided operational and financial updates in connection with its Rights Offering announced on December 27, 2021. The Company signed Power Purchase Agreements (PPAs) for 600 MWs at INR 2.54 per kWh and another 2,333 MWs at INR 2.42 per kWh with Solar Energy Corporation of India. It also issued $414 Million in Solar Green Bonds. Azure Power received favorable legal rulings regarding outstanding payment disputes and is evaluating potential renewable energy asset acquisitions in India. Allegations against key personnel were investigated with no substantiated claims found.
Azure Power Global Limited has announced a record date of January 6, 2022, at 5:00 p.m. Eastern Time for a rights offering. Shareholders will receive non-transferable subscription rights to purchase up to 15,828,917 new equity shares at no charge. The rights offering will be detailed in a prospectus supplement distributed on January 7, 2022. This initiative aims to raise capital while providing existing shareholders with the opportunity to increase their stake in the company. The rights offering is part of Azure Power's strategy to enhance its market position as a renewable power producer in India.
Azure Power Global Limited (NYSE: AZRE) has announced a rights offering aimed at raising up to $249,938,599. Shareholders will receive one non-transferable subscription right for each equity share held by 5:00 p.m. ET on January 6, 2022. Each right entitles the holder to purchase 0.3275 equity shares at $15.79 per whole share. Major shareholders, CDPQ and OMERS, have agreed to exercise their rights fully and backstop any shares left unsubscribed. The offering begins distribution on January 7, 2022 and closes on January 24, 2022.
Azure Power Global Limited (NYSE: AZRE) held its 2021 Annual Meeting of Shareholders on December 21, 2021, in New Delhi. All proposals for shareholder approval were successfully adopted. The approved items included the Annual Report for the fiscal year ending March 31, 2021, the re-appointment of Ernst & Young as the independent auditor for the fiscal year ending March 31, 2022, and the re-election of three directors: Muhammad Khalid Peyrye, Yung Oy Pin Lun Leung, and Richard Alan Rosling.
Azure Power (NYSE: AZRE) has signed its largest Power Purchase Agreements (PPAs) with Solar Energy Corporation of India for a capacity of 2,333 MW of solar power projects. The projects will supply power at a fixed tariff of INR 2.42 per kWh for 25 years, with phased commissioning starting in November 2024. Additionally, Azure Power received a Letter Of Award for a 200 MW hybrid power project at a tariff of INR 2.62 per kWh, combining solar and wind capacity. This marks a significant expansion in the company's renewable energy efforts in India.
Azure Power, a leading renewable energy producer in India, announced its financial results for the fiscal second quarter ended September 30, 2021. The company reported a total capacity of over 7.2 gigawatts, with 2.3 GWs operational and 0.6 GWs under construction. A conference call will take place on December 13, 2021, at 8:30 a.m. ET to discuss these results. Investors can access the call live via webcast. Azure Power has been a pioneer in solar energy development in India since 2008 and aims to provide low-cost solar power solutions.
Azure Power Global Limited (NYSE: AZRE) reported its consolidated results for the fiscal second quarter 2022, ending September 30, 2021. Operating revenues rose by 25% to INR 4,386 million (US$ 59.1 million), driven by new projects and carbon credits. Adjusted EBITDA increased 59% to INR 3,685 million (US$ 49.8 million). Operating megawatts grew to 2,210 MWs, a 31% rise from the previous year. However, the company posted a net loss of INR 300 million (US$ 4.0 million), improving from a loss of INR 368 million in the same quarter last year, attributed to higher legal and tax expenses.
Azure Power (NYSE: AZRE) has signed Power Purchase Agreements (PPAs) for 600 MW of solar power projects with the Solar Energy Corporation of India (SECI). These agreements, part of a 4 GW manufacturing-linked initiative, will deliver energy for 25 years at a fixed tariff of INR 2.54 (~US 3.4 cents) per kWh. The projects will be located in Rajasthan, with connectivity approval and land acquisition confirmed. The commissioning is expected by Q3 FY 2024. Azure Power aims to create shareholder value through these contracts, emphasizing their commitment to profitable growth.
Azure Power Global Limited (NYSE: AZRE), a top renewable power producer in India, will host its annual general meeting on December 21, 2021, at 3 p.m. in New Delhi. Key proposals include adopting the annual report for the year ended March 31, 2021, re-appointing Ernst & Young as independent auditor, and re-electing directors. Shareholders recorded by November 22, 2021, can vote. The agenda will be available on the company's website. Azure Power, with over 7 gigawatts of capacity, has pioneered India’s solar energy sector since 2009.
