Azure Power wins 260MW solar project in Gujarat, India

The project is slated to be commissioned in 2019.

Azure Power announced that it has won a 260MW solar project in an auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL). The 260MW allocation is the largest allocation by GUVNL to a solar power developer, 52% of the total allocated capacity of 500 MW announced. 

Azure Power will provide power for 25 years to GUVNL which has been rated AA- by ICRA, a Moody’s company, at a tariff of INR 2.67 (~US$ 0.04) per kWh. The project will be developed by Azure Power outside a solar park and is likely to be commissioned in 2019.