Azure Power and the Punjab Energy Development Agency have signed a 150MW solar power implementation agreement.
The deal, under PEDA’s Solar Policy Phase III, is the company’s fifth consecutive win in Punjab, and brings Azure Power’s total in the state to 225MW at various stages of development.
Azure said bids totalling 1650MW were submitted to the state by 18 companies for the total tender capacity of 500MW.
The power will be procured by Punjab Power.
Azure founder and chief executive officer Inderpreet Wadhwa said: “We have consistently demonstrated 100% win rate in the Punjab state auctions and are the longest tenured private solar power operator in the country.
“We have won 150MW at INR 5.63/KWh while the lowest bid was INR 5.09/kWh.”
Image: an Azure Power project in Rajasthan (Azure Power)
