Incentives include lower tariff of Rs.4.97 kWh

Azure Power (NYSE: AZRE) has won a 11.35 megawatts (MWs) solar rooftop power project covering 152 schools and six states – Uttar Pradesh, Madhya Pradesh, Rajasthan, Karnataka, Chhattisgarh and Kerala.

Azure Power will sign the power purchase agreement with Navodaya Vidyalaya Samiti, an autonomous body under Ministry of Human Resource Development.

Azure Power qualifies for a capital incentive from Navodaya Vidyalaya Samiti, which is expected to result in a weighted average levelized tariff of Rs.4.97 (~US cents 7.7) per kWh.

This is the largest allocation for this auction, 60% of the total. fii-news.com