India’s solar power company Azure Power announced the commissioning of four solar power plants in three states. The projects include a 50 MW plant in Andhra Pradesh, two plants of total capacity of 28 MW plant in Punjab and a 10 MW plant in Karnataka. These plants, connected to the respective state grids, are part of Azure Power's 900+ MW portfolio in 15 states. This includes the country's largest operational solar plant of 100 MW under India's National Solar Mission in Rajasthan.
The Punjab plants were commissioned in a record period of under ten months from the signing of the Power Purchase Agreement, maintaining the company's position as a leader with the largest portfolio in the state.
The company added 88 MW to its portfolio of high-quality assets, with the tariff ranging from INR 5.89 per kWh (with escalation) to INR 7.33 per kWh for these plants. Speaking on this occasion, Mr. Inderpreet Wadhwa, Founder and Chief Executive Officer, Azure Power stated, "With the commissioning of these plants, we have once again demonstrated our strong project development, engineering and execution capabilities. We are proud to have successfully brought down the cost of power by almost 74% in 2016 from INR 17.91 per KWh in 2009."
Azure Power has been among the most active participants in several solar power auctions since the launch of solar power market in India.