Azure powers Punjab

#Azure Power (NYSE:AZRE) has commissioned the largest solar power project in Punjab supplying electricity to the state’s grid.

Azure has a solar power implementation agreement with #Punjab Energy Development Agency (PEDA) under its Solar Policy Phase III.

The 150MW solar plant, commissioned in December 2016, represents a portfolio of three projects of 50MW each.

The weighted average tariff on these projects is INR5.63 per kWh with a 25-year supply contract with #Punjab State Power Corporation Limited.

Spread across 713 acres of leased land, Azure Power has created discretionary long-term cash flow for the local community.

Commenting on the occasion, #Inderpreet Wadhwa, Founder and Chief Executive Officer, #Azure Power said, “We are pleased to have started 2017 with the early commissioning of our largest project. Our ability to complete projects ahead of schedule and at scale is a testament to our efficiency and reliability as a trusted solar power producer.”

“We continue to demonstrate our strong project development, engineering, and execution capabilities,” he said.

Starting with the Awan 2MW project in 2009, Azure Power now has a total solar portfolio of 225 MW in the state, currently making it the largest owner and operator of solar power plants in Punjab. fii-news.com