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Azure Power wins 160 MW solar project in UP auction quoting tariff of Rs 3.55/unit

Source Name: 
The Economic Times
Source Url: 
https://energy.economictimes.indiatimes.com/news/renewable/azure-power-wins-160-mw-solar-project-in-up-auction-quoting-tariff-of-rs-3-55/unit/64949753

Azure Power, New Delhi-based independent solar power producer, today announced it has won a 160 Megawatt (Mw) solar power project in Uttar Pradesh in the latest auction conducted by Uttar Pradesh New & Renewable Energy Development Agency (UPNEDA). 

Azure Power will sign a 25-year power purchase agreement with Uttar Pradesh Power Corporation Limited (UPPCL) at a tariff of Rs 3.55 per kWh, around 45 percent higher than the lowest tariff bid for a solar project in the country. 

The project is expected to be commissioned in 2019 and developed outside a solar park. With this win, Azure Power’s solar portfolio stands at 260 Mw in UP. The company has a portfolio of 2,000 MW capacity projects in India. 

Author: editor_2