The project is located in the state of Punjab and was commissioned in December 2016. Azure Power signed a solar power implementation agreement with Punjab Energy Development Agency (PEDA) under its Solar Policy Phase III. The 150 MW solar power plant consists of a portfolio of three projects of 50 MW each at a weighted average tariff of INR 5.63 ($8.50) per kWh. The company will supply power to Punjab State Power Corporation Limited for 25 years.
The project occupies 713 acres of land and was commissioned ahead of the contracted scheduled date. By leasing project land, Azure Power has created discretionary long-term cash flow for the local community. The generated solar power will help to electrify nearby areas and will create an estimated 1,000 jobs in the locality.
“We are pleased to have started 2017 with the early commissioning of our largest project” said Inderpreet Wadhwa, Founder and Chief Executive Officer, Azure Power. “Our ability to complete projects ahead of schedule and at scale is a testament to our efficiency and reliability as a trusted solar power producer. We continue to demonstrate our strong project development, engineering, and execution capabilities and are delighted to make this contribution towards realisation of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation.”
Azure Power has a long history of operating solar power plants in India and currently maintains a leading position in the state of Punjab. Starting with the Awan 2 MW project in 2009, Azure Power now has a total solar portfolio of 225 MW in the state, currently making it the largest owner and operator of solar power plants in Punjab.
Image: Azure Power 34 MW solar plant in Punjab, India
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