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Azure Power has announced it has won 100 MW solar power capacity projects in Andhra Pradesh, which were recently put up for auction by NTPC Limited under the National Solar Mission.
The projects will be built in the Andhra Pradesh solar park, where NTPC has auctioned a total capacity of 1000 MW of solar power projects. Although ten companies participated in the online reverse auction process, Azure Power secured 100 MW of the total 150 MW capacity auctioned. The tariff for the project is pegged at Rs 5.12/ kWh, 11 per cent higher than the first two auctions priced in the same solar park.
The first two auctions in the Andhra Pradesh solar park were won by Sun Edison and Soft Bank at a tariff of Rs 4.63/ kWh. This auction of 150 MW capacity was set for projects using solar cells and modules manufactured in India to promote the government of India's Make in India campaign.
Inderpreet Wadhwa, Founder and Chief Executive Officer, Azure Power in a statement said, “With this win, we have once again demonstrated our strong project development capabilities. We are proud to have successfully brought down the cost of solar power in this project.”
Azure Power has been among the active participants in several solar power auctions. In June this year, it commissioned the largest solar power project under the National Solar Mission, a 100 MW plant in Rajasthan. Recently, the company also secured 150 MW solar capacity in Punjab with a bid of Rs 5.63/kWh.
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