Azure Power Bags 250MW Solar Power Project with the Tariff of Rs 3.14

Azure Power has bagged a 250MW solar project in an auction conducted by NTPC under Domestic Content Requirement (DCR). Azure Power quoted the lowest bid of Rs 3.14.

As per the tender issued by NTPC there is no predetermined site locations for the project, this makes bidders liable to identify the land for a 250MW solar project themselves. Also, the equipments used for the installation and commissioning must be sourced lo0cally under Domestic Content Requirement (DCR) categoty.

The scope of work for 250MW solar project includes designing, engineering, manufacturing, supply, packaging and forwarding, transportation, unloading, storage, installation, and commissioning. The selected developer is also liable to deliver O&M solutions for the project and transmission system. The project was tendered in August 2017.

Speaking on this occasion, Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “Our long history of superior solar power operations with NTPC Vidyut Vyapar Nigam right from the inception of National Solar Mission has contributed to our success of procuring the one of the largest solar power contract auctioned by NTPC. We are delighted to make a contribution towards the realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation.”

In late September this year Azure Power secured 260 MW Solar Power Project in Gujarat in an auction conducted by Gujarat UrjaVikas Nigam Ltd (GUVNL). The 260 MW allocation is the largest allocation by GUVNL to a solar power developer, 52% of the total allocated capacity of 500 MW announced. Azure Power will provide power for 25 years to GUVNL which has been rated AA- by ICRA, a Moody’s company, at a tariff of INR 2.67 (~US$ 0.04) per kWh. The project will be developed by Azure Power outside a solar park and is likely to be commissioned in 2019.