Azure Power announced it has won a 5MW rooftop solar power project in a bid conducted by New & Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP). This is the largest allocation for this auction, 33% of the total. Azure Power will provide power for 25 years to various Government buildings in Andhra Pradesh. Azure Power qualifies for a capital incentive which results in a weighted average levelized tariff of INR 4.57 (~US cents 6.7) per kWh.
Speaking on this occasion, Mr Vishal Jain, DGM, Azure Roof 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 200MWs 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."