India Development News & Foreign Investment Opportunities

Azure signs LoA for 300-MW ISTS

Project completion by early 2021


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.”

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