India Development News & Foreign Investment Opportunities

Azure signs LoA for 300-MW ISTS

Project completion by early 2021

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Project completion by early 2021

 

 

Azure Power has signed a letter of award (LoA) for a 300 MW Interstate Transmission System (ISTS) grid connected solar PV project won in an auction conducted by NTPC Limited.

Azure Power will provide power to NTPC at a tariff of Rs.2.59 (~US 3.6 cents) per kWh for 25 years.

The solar PV project can be located anywhere in India, which will likely be outside a solar park, and is expected to be completed in early 2021.

With this win, 86% of the company’s 2-GW+ contracted pipeline is with counterparties that have A to AAA domestic debt ratings and over 1 GW of the pipeline is with sovereign counterparties.

Azure Power Founder, Chairman and Chief Executive Officer Inderpreet Wadhwa said: “Our long history of superior solar power operations with NTPC from the inception of National Solar Mission has contributed to our success of winning this 300 MW project with NTPC.” fiinews.com

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