Pavagada park gets 100MW plant

Azure Power (NYSE: AZRE) has won a cumulative capacity of 130 MWs at a blended tariff of Rs.3.35 (~US 5.2 cents) per kWh, bringing the company’s total portfolio to over 1,720 MWs.

The win includes a 100 MWs utility scale project at the Pavagada solar park in Karnataka and a 30 MWs solar rooftop project with Indian Railways.

The 100 MWs project was won in an auction conducted by Karnataka Renewable Energy Development Ltd.

The solar plant will be set up at Pavagada Solar Parks being developed by Karnataka Solar Power Corporation Limited (KSPCL).

Azure Power will supply power to the electricity supply companies of Karnataka (ESCOMs) for 25 years at a tariff of Rs. 2.93 (~US 4.6 cents) per kWh.

Another 30 MWs was allocated by Indian Railways to Azure Power.

Azure Roof Power will provide power for 25 years to various Indian Railway facilities across 12 states.

Azure Power qualifies for a capital incentive from Indian Railways and the power will be sold at a weighted average levelized tariff of Rs.4.74 (~US 7.5 cents) per kWh.

With the new allocation of 30 MWs, Azure Power has become the largest supplier of solar power to Indian Railways with a cumulative awarded capacity of 76 MWs, which includes the 46 MWs of capacity currently in the portfolio. fii-news.com