Azure Power has signed a 25 year power purchase agreement (PPA) with Assam Power Distribution Company Limited (APDCL) for the project, at a weighted average tariff of INR3.37 ($0.52) per kWh. The solar plant is expected to be commissioned next year.
The project is expected to help the North eastern state of Assam in addressing shortage of electricity supply.
Presently, there is a peak power deficit of 4.2% in the state, while the energy demand growth was 9% for the year ending March. APDCL presently serves a quickly growing consumer base of more than 3.3 million.
Azure Power founder, chairman and CEO Inderpreet Wadhwa said: “We are pleased to announce our win in Assam and with this, we continue to demonstrate our strong project development, engineering, and execution capabilities.
“We are delighted to make this contribution towards the realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation.”
Azure Power has been actively participating in solar power auctions since the start of solar power market in India.
In May, Azure Power had won bidding for the construction of a 130MW solar plant, in an auction conducted by the Maharashtra State Electricity Distribution Company (MSEDCL).
In March and April, the company secured contracts totaling 130MW and 200MW, respectively. The 130MW includes 100MW utility scale project to be located in Karnataka and a 30MW rooftop project with Indian Railways.
The Karnataka solar project was offered by the state government of Karnataka through Karnataka Renewable Energy Development.
The 200MW portfolio in April was awarded in the state of Gujarat by Gujarat Urja Vikas Nigam Limited (GUVNL). Azure Power stated that it will sign a 25 year PPA with GUVNL to supply the power generated from the solar plant.
