Azure Power lands 150MW hybrid project as part of 1.2 GW SECI programme

• Indian independent power producer (IPP) Azure Power has actually received a letter of award (LOA) for its initial 150MW interstate transmission system connected (ISTS) solar-wind hybrid project with the Solar Energy Corporation of India (SECI).

The project will certainly call for the release of 100MW of solar and also 50MW of wind capacity within 18 months of signing the power purchase agreement (PPA).

The agreement is to run for 25 years at a taken care of tariff price of INR2.35/ kWh (US$ 0.032 c/kWh) as well as forms part of the 1.2 GW ISTS 'Hybrid Tranche-- IV' tender from SECI.

" Acting on our first wind project win, we have safeguarded yet another important landmark with our very first solar-wind hybrid project with SECI," claimed Ranjit Gupta, Chief Executive Officer of Azure Power.

" With this win, we are confident of maximising our growth capacity with the impressive possibilities that we have in the Indian renewable resource market."

In April, Azure offered its roof solar company to Radiance Renewables in a bargain worth US$ 73.5 million, which Azure claimed would certainly permit it to refocus initiatives on more profitable locations, specifically utility-scale solar project development.

Ever since, the business has actually gone back to earnings as is on track to raise its operating solar ability by at the very least a third this fiscal year.