Azure Power, one of India’s leading independent solar power producers, announced that it has signed a letter of award (LOA) for a 300 MW Interstate Transmission System (ISTS) grid connected solar PV project won in an auction conducted by NTPC Limited, which has a domestic AAA debt rating and is the Government of India’s largest power utility.
Azure Power will provide power to NTPC at a tariff of INR 2.59 (~US 3.6 cents) per kWh for 25 years. The solar PV project can be located anywhere in India, which will likely be outside a solar park, and is expected to be completed in early 2021.
With this win, 86% of the company’s 2 GW+ contracted pipeline is with counterparties that have A to AAA domestic debt ratings and over 1 GW of the pipeline is with sovereign counterparties.
Country updates
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October 29, 2018
CPPIB in talks with Goldman Sachs for its ReNew Power's stakes
Canada Pension Plan Investment Board (CPPIB) has expressed its interest to acquire the stakes owned by Goldman Sachs in the Indian renewable energy company, ReNew Power Ltd. Goldman S...
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FRV opens 138 MW solar project in India
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ReNew Power wins 3 MW floating PV project in India
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October 18, 2018
CDPQ announces US$100 million investment in Azure Power
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October 18, 2018
Tenders launched for 1,500 MW solar projects in Madhya Pradesh
Rewa Ultra Mega Solar Limited (RUMSL), a joint venture of Solar Energy Corporation of India (a premier agency of the Government of India, spearheading the development of solar power in the country) an...
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