Azure Roof Power to Electrify Government Buildings in Andhra Pradesh
August 07 2018 - 6:30AM
Business Wire
Azure Power (NYSE: AZRE), one of India’s leading independent
solar power producers, announced it has won a 5 MW rooftop solar
power project in a bid conducted by New & Renewable Energy
Development Corporation of Andhra Pradesh Ltd (NREDCAP). This is
the largest allocation for this auction, 33% of the total. Azure
Power will provide power for 25 years to various Government
buildings in Andhra Pradesh. Azure Power qualifies for a capital
incentive which results in a weighted average levelized tariff of
INR 4.57 (~US cents 6.7) per kWh.
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Azure Power Solar Plant (Photo: Business
Wire)
Azure Roof Power offers superior rooftop solar power
solutions for commercial, industrial, government, and institutional
customers in cities across India to lower their energy bill and
meet their greenhouse gas (GHG) emission reduction targets. With
nearly 200 MWs of high quality, operating and committed solar
assets across 23 states, Azure Roof Power has one of the largest
rooftop portfolios in the country. Azure Roof Power has a
well-diversified customer base with a majority of the portfolio
contracted with Government of India backed entities. Azure Roof
Power customers include large commercial real estate companies, a
leading global chain of premium hotels, distribution companies in
smart cities, warehouses, Delhi Metro Rail Corporation, Indian
Railways, a Delhi water utility company and various Government of
India Ministries.
Speaking on this occasion, Mr Vishal Jain, DGM, Azure Roof
Power said “Azure Roof Power offers tremendous value to its
customers within the solar rooftop category across various
segments. Our solutions help lower the energy cost of customers and
meet their greenhouse (GHG) emission reduction targets. Given our
strong presence in Andhra Pradesh of 200 MWs in the utility
segment, our foray into rooftop in the state is a natural extension
of our expertise in implementing solar power projects. With this
win, we are glad to expand our presence in the state and make a
contribution towards the initiative of the government of Andhra
Pradesh to go solar.”
About Azure Power
Azure Power (NYSE: AZRE) is a leading independent solar power
producer with a pan-Indian portfolio. With its in-house
engineering, procurement and construction expertise and advanced
inhouse operations and maintenance capability, Azure Power provides
low-cost and reliable solar power solutions to customers throughout
India. It has developed, constructed and operated solar projects of
varying sizes, from utility scale, rooftop to mini & micro
grids, since its inception in 2008. Highlights include the
construction of India’s first private utility scale solar PV power
plant in 2009 and the implementation of the first MW scale rooftop
project under the smart city initiative in 2013.
For more information, visit: www.azurepower.com.
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Investor ContactInvestor Relations, Azure PowerNathan
Judge, CFAir@azurepower.comorMedia ContactMarketing, Azure
PowerSamitla Subbapr@azurepower.com+91-11- 4940 9854
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