Azure Power announced that it has won a 100 MW bid by NTPC Limited. The auction is part of the National Solar Mission. The projects will be built in the Andhra Pradesh solar park, where NTPC has auctioned a total capacity of 1000 MW of solar power projects.
Azure Power secured 100 MW of the total 150 MW capacity auctioned off. The tariff on the project will be INR 5.12/ kWh, almost 11% higher than the first two auctions priced in the same solar park that is INR 4.63/ kWh.
“With this win, we have once again demonstrated our strong project development capabilities. We are proud to have successfully brought down the cost of solar power by almost 71% from INR 17.91 /kWh in 2009 to INR 5.12/kWh in this project,” said Inderpreet Wadhwa, Founder and Chief Executive Officer, Azure Power.
“We are also delighted to make this contribution towards realization of our Honorable Prime Minister’s commitment towards clean and green energy, through solar power generation,” he added.