Azure Power, one of the leading players in the Indian solar market, has commissioned a major 130 MW solar power project under the Karnataka Solar Policy 2014-2021.
The project is comprised of one solar PV plant of 50 MW and two more facilities with a capacity of 40 MW each, located across 668 acres of land in the state.
The power produced on site will be supplied by Azure Power to three distribution companies: Chamundeshwari Electricity Supply Company Limited, Hubli Electricity Supply Company Limited, and Gulbarga Electricity Supply Company Limited on the basis of a 25-year power purchase agreement. The average weighted tariff is set at INR 6.51/kWh ($0.10/kWh).
“With the commissioning of this plant, we now have a 150 MW portfolio and proven track record of operating solar power projects in Karntaka.” said Inderpreet Wadhwa, founder and CEO of Azure Power, adding that the company was delighted to contribute towards the government’s commitment to green and clean energy through solar power generation.
The clean energy developer, whose solar portfolio on the national level exceeds 1 GW, says that it is now the largest PV operator in the Indian state of Karnataka, which is on the list of 10 Indian states hosting 90% of the nation’s large-scale solar.
Despite the fact the local infrastructure may act as a deterrent in India’s shift away from fossil fuels, the nation has drawn up an ambitious plan to source 57% of its energy requirements from renewables by 2027 and it is moving in that direction at a remarkably brisk pace.
According to a forecast by market analyst Mercom Capital Group, the Indian solar sector is expected to add more than 9 GW of new capacity in 2017, which will most certainly reaffirm the nation’s position among the world’s leading solar markets, and Azure Power’s contribution in this regard is highly significant.