Azure gets 25-year solar contract

Azure Power (NYSE: AZRE) has won an additional 20 MWs of solar rooftop projects for Indian Railways, the largest rail network in Asia.

With the new allocation of 20 MWs, Azure Power has become the largest supplier of solar power to Indian Railways with a cumulative awarded capacity of over 66 MWs which includes the 46 MWs of capacity won earlier this year.

Azure Roof Power will be used to provide power for 25 years to various Indian Railway facilities across 17 states and union territories.

The power will be sold at a tariff range of INR 3.64 – 4.49 (US$ 0.06- 0.07) based on location.

In addition, Azure Power qualifies for a capital incentive from Indian Railways which is expected to result in a weighted average levelized tariff of INR 4.88 (~US $0.08) per kWh.

Azure Roof Power offers superior rooftop solar power solution for commercial, industrial, government, and institutional customers in cities across India to lower their energy bills and to meet their greenhouse gas (GHG) emission reduction targets.

With over 150MWs of high quality, operating and committed solar assets across 20 states, Azure Roof Power has one of the largest rooftop portfolios in the country. fii-news.com