Azure Power connects 50 MW project in India
Azure Power has announced the completion of a utility-scale project in India. Ananthapuramu Solar Park is a 50 MW PV power plant, located in the southwestern state of Andhra Pradesh.
Electricity generated at Ananthapuramu Solar Park will be sold under a 25-year PPA to the Solar Energy Corporation of India, at levelized tariff rate of INR 4.79 ($0.075)/kWh.
The project brings Azure Power’s operational solar capacity above 1 GW, with projects spread across 23 of India’s 29 states.
“We have achieved this important milestone of 1,000 MWs operating through large-scale, mini/micro grid and rooftop solutions across the entire country,” stated Azure Power CEO Inderpreet Wadhwa. “We are delighted to make this contribution towards the realization of our Hon’ble Prime Minister’s commitment of clean and green energy, through solar power generation.”
According to its most recent financial filings from February 2018, Azure Power has 1.58 GW of PV projects either in operation or committed. For the financial year to March 31st 2019, the company forecasts 1.3 – 1.4 GW of operational capacity, and revenue between $143 million and $151 million.
Andhra Pradesh is one of the leading Indian states in terms of solar deployment, and also home to the Kurnool Ultra Mega Solar Park – one of the largest pv power plants in the world, 100 MW of which was also developed by Azure Power.
The state is also on the way to becoming a major solar manufacturing hub for India, with plans for several cell and module fabs underway.
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