Azure Power Global saw its cost of deploying solar fall by nearly 19% last year, but the company still recorded a net loss of US$38.1 million in the quarter ending 31 March 2021 despite a year-on-year increase in revenue.
Indian solar power producer Azure Power has sold its rooftop solar business to Radiance Renewables as the company aims to focus more on projects with higher returns.
Solar developers have welcomed clarification on India’s new import duties for modules and cells that will come into effect next year, but questions have been raised about the ability of domestic manufacturers to ramp up production to meet rising demand.
COVID-19-induced project delays impacted India’s solar power transition last year, but 2021 is still set to be a “landmark year” for the resource, according to new research.
Azure Power’s project commissioning activity ground to a halt in the three months ended 30 June 2020, as the impacts of COVID-19 were felt strongly in India.
Azure Power and Tata Power were among winners in a reverse auction for 1.2GW of solar projects in India, with a winning tariff of INR2.43/kWh (US$0.0324).
Azure Power has seen its pipeline of interstate transmission solar in India swell by another 2GW after a greenshoe option in an existing contract with Solar Energy Corporation of India (SECI) was exercised.
SECI approves scheme that will see annual PV batches of 500MW deployed potentially anywhere in India every year until 2025, with supply underpinned by PPA with US$0.041/kWh tariff.
