Azure Power Secures Solar Power Project worth 2 GW from SECI

The solar power project can be developed anywhere in India and is projected to be commissioned in staggered annual phases of 500 MW each with the first commissioning projected by 2022 and full commissioning by 2025

December 16, 2019. By News Bureau

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Azure Power has announced that it has established a letter of award (LOA) for a 2 Gigawatt (GW) interstate transmission (ISTS) solar power project with Solar Energy Corporation of India (SECI) to supply power for 25 years at a tariff of Rs 2.92 per kWh.

The solar power project can be developed anywhere in India and is projected to be commissioned in staggered annual phases of 500 MW each with the first commissioning projected by 2022 and full commissioning by 2025.

Speaking on this event, Ranjit Gupta, Chief Executive Officer, Azure Power said, “The tariff is 8 per cent higher than the last discovered tariff for an ISTS project with SECI. The company now has a portfolio of 5 GW.”

The power purchase agreement (PPA) allows for the waiver of ISTS transmission charges and improved protections from curtailment. As part of the LOA, the company can elect in the next 5 days to double the capacity allocated as part of a greenshoe option.

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