SECI gives contract for 25 years power supply

Azure Power has won a 50 MW solar project in an auction conducted by Solar Energy Corporation of India (SECI), a company of the Ministry of New and Renewable Energy.

The 50 MW project is the largest rooftop allocation by SECI to a solar power developer, approximately 14% of the total allocated capacity of 360 MW announced.

Azure Roof Power will provide power for 25 years to various Government of India buildings across states and union territories of Chandigarh, Chhattisgarh, Delhi, Haryana, Kerala, Odisha, Punjab, Rajasthan, Uttar Pradesh and West Bengal.

The power will be sold at a tariff range of Rs. 3.19 – 3.97 (US$ 0.05- 0.06) /kWh based on location. In addition, Azure Power qualifies for a capital incentive from SECI, which is expected to result in a weighted average levelized tariff of Rs. 4.65 (~US $0.07) /kWh.

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 over 150 MWs of high quality, operating and committed solar assets across 19 states, Azure Roof Power has one of the largest rooftop portfolios in the country.

Azure Roof Power has a well-diversified customer base with majority 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, Delhi water utility company and various Government of India Ministries.

Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “With this win, we have once again demonstrated our strong project development capabilities.” fii-news.com