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