Azure Power to develop 1,000MW solar project in Rajasthan

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Azure Power to develop 1,000MW solar project in Rajasthan

Solar power firm Azure Power has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan, India, to develop a 1000 MW solar power project.

The announcement was made when laying the foundation stone for Azure Power’s 100 MW Solar power plant to be commissioned by April 2015.

This is the largest capacity project won under the prestigious National Solar Mission (NSM) - Phase II, taking the total capacity of Azure Power under NSM to 142 MW. It also makes Azure the largest private solar investor in Rajasthan with a total investment capital over Rs13 billion (US$203.5 million) in the state.

Spread across 725 acres of land at Hardhani and Nandia Kalan in Jodhpur, the plant will electrify 100,000 households. The project is expected to be completed before 30th April, 2015.

Mr. HS Wadhwa, Chairman, Azure Power stated:

“It is an extremely proud moment for us as we sign the MOU with the Government of Rajasthan and lay the foundation stone of our 100 MW solar power plant. Azure Power has continuously demonstrated its commitment to inclusive growth through clean energy generation and this is a vital next step in further strengthening it. The Rajasthan Government under the dynamic leadership of Hon’ble Chief Minister and high solar radiation in the state, have encouraged us to invest in such a scale. We look forward to providing our customers the highest degree of quality standards coupled with cheaper tariff. Azure has been successful in bringing the power cost from INR 17 in 2009 to INR 5.45 with viability gap funding in 2014. We hope this trend will continue to achieve grid parity in the near future.’

With this project, Azure Power has a portfolio of more than 400+ MWs under various stages and has the longest operating history of solar power plants across various states in India.

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