A previous Azure Power project in Rajasthan. Source: Azure Power.
Indian independent solar power producer Azure Power has secured finance for a 200MW PV project it won in a January auction.
The company secured the capacity at the Bhadla Solar Park at a power price of US$0.04/kWh for 25 years in a Solar Energy Corporation of India (SECI) auction.
It has secured INR6 billion (US$82 million) in funding for the site which is expected to be commissioned in 2019.
“We are pleased to announce the closing of financing for our 200MW plant in Bhadla,” said Inderpreet Wadhwa, founder, chairman and CEO, Azure Power. “This financing is a testament to our strong financing, project development, engineering and execution capabilities. We 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.”