Azure Power announced the early commissioning of a 95 MW solar power plant in Gujarat which was completed in record time for a ground mount project built by the company and has been commissioned approximately five months ahead of the scheduled PPA operation date. This section is the first phase of a 260 MW allocation by Gujarat Urja Vikas Nigam Ltd (GUVNL) to Azure Power and was developed outside a solar park. Azure Power will provide power for 25 years at a tariff of Rs 2.67 (~US 3.9 cents) per kWh to GUVNL which has a strong offtake credit and has been rated AA- by ICRA, a Moody’s company.
Azure Power developed and is operating India’s first MW-scale distributed solar rooftop project in Gandhinagar. Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “With the early commissioning of this plant we have set a new record for the company on delivering projects ahead of schedule, once again demonstrating our strong project development, engineering, and execution capabilities. ”