Azure Power signs MoU with Rajasthan govt for 1000 MW Solar Power Project

The announcement comes along with Rajasthan Chief Minister Vasundhara Raje laying the foundation stone for Azure Power’s 100 MW Solar power plant to be commissioned by April 2015.

Present at the occasion was  HS Wadhwa, Chairman, Azure Power.

This is the largest capacity project won under the prestigious National Solar Mission -Phase II taking the total capacity of Azure Power under NSM to 142 MW, making it the largest winner under this policy.

It also makes Azure the largest private solar investor in Rajasthan with a total investment capital over INR 1300 Crore in the State.

Spread across ­725 acres of land at Hardhani and Nandia Kalan in Jodhpur, the plant will electrify 1, 00,000 households and create an estimated 1500 jobs in the locality. The project is expected to be completed before April 30, 2015.

HS Wadhwa, Chairman, Azure Power said, “It is an extremely proud moment for us as we sign the MOU with the Government of Rajasthan and lay the foundation stone of our 100 MW solar power plant. Azure Power has continuously demonstrated its commitment to inclusive growth through clean energy generation and this is a vital next step in further strengthening it."

"The Rajasthan Government under the dynamic leadership of Hon’ble Chief Minister and high solar radiation in the state, has encouraged us to invest in such a scale. We look forward to providing our customers the highest degree of quality standards coupled with cheaper tariff. Azure has been successful in bringing the power cost from INR 17 in 2009 to INR 5.45 with viability gap funding in 2014. We hope this trend will continue to achieve grid parity in the near future," he said.