Azure to supply power for 25 years to military establishments

Azure Power (NYSE:AZRE) commissioned 7-MW of solar plant capacity in Maharashtra, its first private solar power project in the defence establishments under Ministry of Defence.

The project was done in collaboration with Solar Energy Corporation of India (SECI) which is the designated nodal agency for implementation for Ministry of Defence and Para Military Forces.

Azure Power won this project under the National Solar Mission.

The power generated is sold to Ministry of Defence establishments under a 25-year power purchase agreement at a blended tariff of Rs.5.36 (~US 8 cents) per kWh.

In addition, SECI will provide viability gap funding of Rs.1.73 million for this project.

Speaking on this occasion, Inderpreet Wadhwa, Founder and Chief Executive Officer, Azure Power said, “This project demonstrates the value of solar as an innovative and affordable resource at the point of consumption by eliminating transmission costs.” Fii-news.com