GUVNL to get supply under 25-year PPA

Azure Power (NYSE: AZRE) has won a 200MW solar project in Gujarat, supported by a 25 year Power Purchase Agreement (PPA).

The PPA will be signed with Gujarat Urja Vikas Nigam Limited (GUVNL), making Azure Power the largest solar power supplier to the state.

The project will be developed by Azure Power outside a solar park and is expected to be commissioned in 2019.

With this win, the cmpany now has a total portfolio of over 470MWs in Gujarat.

GUVNL’s levies tariff of INR 3.06 (~US$ 0.05) per kWh, which is 25% higher than the lowest tariff of INR 2.44 (~US$ 0.04) in the Indian solar market. fii-news.com