Azure Power bags 150MW wind-solar hybrid power project in India
Azure Power, an Indian renewable power producer listed on the NYSE, has been issued a letter of award (LOA) for a 150MW ISTS connected wind-solar hybrid power project from Solar Energy Corporation of India (SECI) to supply power for 25 years at a fixed tariff of INR 2.35 per kWh.
The wind-solar hybrid power project is part of the 1.2GW ISTS Hybrid Tranche – IV tender from SECI. It will call for establishing 100MW of solar and 50MW of wind capacity within a period of one and a half years from the execution of the power purchase agreement (PPA).
Ranjit Gupta — MD and CEO of Azure Power said: “Following up on our first wind project win, we have secured yet another important milestone with our first solar-wind hybrid project with SECI.
“We have taken steps to develop large wind sites and this project, along with the wind project we announced earlier, will be built as part of that development. With this win, we are confident of maximizing our growth potential with the remarkable opportunities that we have in the Indian renewable energy market.”
According to Azure Power, the LOA is currently contingent on the final decision of the High Court of Delhi in the writ petition filed by Renew Ushma Energy Vs SECI and others in the matter of e-Reverse auction in the tender.