Solar plant in India. Source: NTPC. License: All rights reserved.
Indian solar power producer Azure Power Global Ltd (NYSE:AZRE) said on Friday it has brought online the final phase of a 50-MW solar park in Uttar Pradesh.
Built on an area of over 300 acres (121.4 ha), the photovoltaic (PV) facility will sell electricity to state-owned utility NTPC at a tariff of INR 4.78 (USD 0.074/EUR 0.062) per kWh under a 25-year contract. Azure Power won the power purchase agreement (PPA) through an auction under the second batch of India’s National Solar Mission Phase II.
The northern state of Uttar Pradesh is suffering a significant peak energy supply deficit, according to the India’s Central Electricity Authority. Azure Power says it is one of the largest solar developers in the state.
The Indian firm has a solar portfolio of over 1,000 MW in India. Earlier this month it won a 50-MW rooftop PV project in an auction held by Solar Energy Corporation of India (SECI).
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.