The combined capacity for the project is 4 GW (GW) which can be developed anywhere in India and is expected to be commissioned in staggered annual phases of 1 GW.
New Delhi (Natural Energy News): Solar power generation company Azure Power today announced that it has awarded the award for a 2,000 MW (Mw) Interstate Transmission (ISTS) solar power project with Solar Energy Corporation of India (SECI) after a greenshoe exercise. (LOA) the letter is received. Substitute as part of the first 2,000 Mw wins with SECI.
"Under this LOA of Greenshio, Azure will provide solar power at a price of Rs. 2.92 (USD 3.9 cents) per KWh for 25 years. The project also comes with the requirement of 500 MW of cell and module manufacturing capacity and Azure Power to partner with domestic producers." the organization said in an announcement.
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The combined capacity for the project is 4 GW (Gw) which can be developed anywhere in India and is expected to be commissioned in staggered annual phases of 1 GW with the first commissioning by 2022 and full commissioning by 2025. The Power Purchase Agreement (PPA) allows for better protection from ISTS transmission charge waiver and curation.
Azur Power CEO Ranjit Gupta said, "With this award, we will have a large pipeline of 4 GW for an extended period, which will help us bring efficiency in the execution and operation of our project."
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He said that partnering with domestic manufacturers of solar PV modules in India as part of the project would help India's solar cell and module manufacturing sector to become a global leader.
Azure Power has an all India portfolio of 7 Gw solar power projects.
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