The power will be sold to Punjab State Power Corporation Limited.
Indian solar power producer Azure Power recently announced that it has commissioned the largest (150 MW) solar power project in north India, in the state of Punjab.
For this project, Azure Power had signed a solar power implementation agreement with Punjab Energy Development Agency (PEDA) under its Solar Policy Phase III.
The 150MW solar power plant represents a portfolio of three projects of 50MW each. The weighted average tariff on these projects is INR 5.63 (US$ 8.5 cents) per kWh and the company will supply power to Punjab State Power Corporation Limited for 25 years.
Spread across 713 acres of land in Punjab, the project was commissioned ahead of the contracted scheduled date. By leasing project land, Azure Power has created discretionary long term cash flow for the local community. The solar power plant will help in electrifying the nearby areas and will create an estimated 1,000 jobs in the locality.
Commenting on the occasion, Inderpreet Wadhwa, Founder and Chief Executive Officer, Azure Power said, “We are pleased to have started 2017 with the early commissioning of our largest project. Our ability to complete projects ahead of schedule and at scale is a testament to our efficiency and reliability as
a trusted solar power producer.
Azure Power now has a total solar portfolio of 225 MW in the state, currently making it the largest owner and operator of solar power plants in Punjab.
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