Azure Power has signed power purchase agreements (PPAs) with Solar Energy Corporation of India (SECI) for 2,333 MW of ISTS-connected solar power projects as part of the 4 GW manufacturing-linked projects. These projects will be built in Rajasthan and will produce power for 25 years at a fixed tariff of Rs 2.42 per kWh. These projects have already received connectivity approval, and land has been identified and is being acquired for development. These projects will be commissioned in three phases: 1,000 MW in November 2024, 1,000 MW in November 2025, and remaining 333 MW in November 2026.
Azure Power also announced that it has received the Letter Of Award (LOA) from Maharashtra State Electricity Distribution Co. Limited (MSEDCL) for its second wind–solar hybrid power project of 200 MW, which will supply power for 25 years at a fixed tariff of Rs 2.62 per kWh and will entail the installation of 133 MW solar and 67 MW wind capacity within 18 months of signing the PPA. The project’s solar capacity will be installed in Rajasthan, while the wind capacity will be in Maharashtra.
In November 2021, Azure Power signed PPAs with SECI for 600 MW ISTS connected solar power capacity as a part of its 4 GW manufacturing linked projects, which would deliver power for 25 years at a fixed cost of Rs 2.54 per kWh. The projects will be built in Rajasthan, for which connectivity approval has been granted and land has been located and is being acquired. According to the agreement, the projects will be completed in Q3 FY 2024.