India-based Azure Power has secured a 130MW solar power project in the state of Maharashtra.
The project was auctioned by Maharashtra State Electricity Distribution Company (MSEDCL), which supplies electricity to 22 million consumers in the state.
The company will sign a power purchase agreement (PPA) with MSEDCL for 25 years, at a tariff of $0.04 per kilowatt-hour (kWh).
Azure Power founder, chairman and CEO Inderpreet Wadhwa said: “We are pleased to announce our win in Maharashtra and with this, we continue to demonstrate our strong project development, engineering, and execution capabilities and are delighted to make this contribution towards realisation of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation.”
The project is to be developed outside a solar park and commissioned by next year.
Last month, the company signed a contract for a 200MW solar project in the state of Gujarat.
With the project contract, Azure Power now has a portfolio of 470MW in the state with Gujarat Urja Vikas Nigam (GUVNL).
The company has been developing and operating solar plants under the Gujarat Solar Policy 2009.
Founded in 2008, Azure Power is engaged in the development and construction of solar projects of varying sizes, ranging from utility-scale to microgrids.
The company constructed India’s first private utility-scale solar PV power plant in 2009 and implemented the first MW scale rooftop project under the smart city initiative in 2013.