Azure Power will provide power for 25 years at an incentivized tariff rate of Rs. 4.57 per kWh.
Azure Power has won a 5 MW rooftop solar power tender in a bid held by New & Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP).
The developer, Azure Power is to install 5 MW of current producing solar panels on the rooftops of various government buildings in Andhra Pradesh.
The company is believed to have won 33 percent of the total project amount available for bidding being the holder of largest allocation of the auction thereafter.
According to the allocation, Azure Power will provide power for 25 years at an incentivized tariff rate of Rs. 4.57 per kWh.
Speaking on this occasion, DGM, Vishal Jain, Azure Power said, “Azure Roof Power offers tremendous value to its customers within the solar rooftop category across various segments. Our solutions help lower the energy cost of customers and meet their greenhouse (GHG) emission reduction targets. Given our strong presence in Andhra Pradesh of 200 MWs in the utility segment, our foray into rooftop in the state is a natural extension of our expertise in implementing solar power projects. With this win, we are glad to expand our presence in the state and make a contribution towards the initiative of the government of Andhra Pradesh to go solar.”
Azure Power has the largest rooftop solar power portfolio owing to its 200 MW operating and committed solar assets across 23 states.