Azure Power sees Indian solar pipeline swell following SECI choice

Jul 24, 2020 01:14 PM ET
  • Azure Power has seen its pipe of interstate transmission solar in India swell by an additional 2GW after a greenshoe option in an existing agreement with Solar Energy Corporation of India (SECI) was worked out.
Azure Power sees Indian solar pipeline swell following SECI choice
Image: Azure Power

The independent power manufacturer validated yesterday (23 July 2020) that it had actually received a letter of award for 2GW of additional ISTS solar energy, acting as an expansion on a previously-awarded contract for the exact same capacity.

Azure will currently provide 4GW of utility-scale solar to be created anywhere in India, under 25-year tolls with SECI at a price of INR2.92 (US$ 0.039) per kilowatt-hour.

The release of that pipe is to be surprised in yearly phases of 1GW. The first project appointing is slated for 2022, with Azure expecting complete commissioning of the 4GW ability under contract by 2025.

Azure also noted that the power acquisition arrangements authorized with SECI forgo all ISTS transmission fees and offer better defenses from curtailment.

However the contract has needed Azure to participate in a 500MW cell and component manufacturing ability commitment in India, as well as the firm has actually verified it means to companion with an existing residential maker to satisfy that specification.

Ranjit Gupta, president at Azure Power, claimed the award of a significant pipeline to be established over an extended time period would allow the firm to drive greater efficiencies from within its project execution as well as procedure teams.

"This project is also a considerable action towards India's commitment to fight climate modification and also to minimize carbon exhausts signed under the Paris Climate Change Agreement. Partnering with domestic makers of solar PV modules in India as part of the project will help move India's solar cell and also component manufacturing field right into becoming an international leader," he claimed.

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