Azure Power reports fall in cost per released megawatt but still slips to loss

• Azure Power Global saw its price of deploying solar fall by almost 19% last year, however the company still recorded a net loss of US$ 38.1 million in the quarter finishing 31 March 2021 regardless of a year-on-year boost in earnings.

In reporting its fourth quarter results today, Azure stated that its cost per MWdc of running solar had actually fallen by around US$ 90,000 throughout the last year, getting to around US$ 390,000 per MWdc by the end of its fiscal year.

This decrease was connected practically entirely to the continuous decrease in solar module costs, and Azure likewise kept in mind that the decrease in module costs would have been much more marked had it not been for guard responsibilities introduced by India's federal government last year, which attached revengeful tolls to imports from China.

Furthermore the firm provided no understanding right into boost because the end of the reporting duration. In recent months solar module rates have risen, anecdotally by as long as 25%, on the back of soaring product and logistics costs.

Azure associates its loss in its last quarter to a problems loss of possessions costing the firm US$ 44.5 million, although this was partially countered by a reversal of supply appreciation civil liberties to the tune of US$ 7.7 million.

The India-based independent power manufacturer (IPP) enhanced its generation capability by 20% on 2020, operating simply over 1.99 GW as of 31 March 2021, nevertheless this totals up to a limited increase on the 1.98 GW ran since the firm's third quarter, which ended 31 December 2020.

The IPP's pipe, that includes complete run, got and granted properties, got to 6.9 GW at the end of the quarter, with gotten and awarded projects comprising 4GW of this.

Of that 4GW, letters of award (LOA) have actually been obtained however power purchase agreements (PPAs) are yet to be signed by the Solar Energy Corporation of India (SECI). SECI has said it will be not able to authorize PPAs up until power sale agreements (PSAs) have actually been authorized, and also Azure said conversations with SECI in the direction of the finalizing of PPAs are ongoing.