November 5 (Solar) – Indian solar power producer Azure Power Global Ltd (NYSE:AZRE) has commissioned a 95-MW solar park in Gujarat five months ahead of the scheduled PPA operation date.
Azure Power said in a statement today that it has commissioned the first phase of a 260-MW ground mount project that was awarded to the company by Gujarat Urja Vikas Nigam Ltd (GUVNL) in September 2017.
The facility, which was developed outside a solar complex, will be selling its output at INR 2.67 (USD 0.037/EUR 0.032) per kWh to GUVNL over a period of 25 years.
“We are pleased to start selling lowest cost solar power in the state of Gujarat, approximately 23% cheaper than the recent average pooling price of power in the state […],” commented Inderpreet Wadhwa, founder, chairman and CEO of Azure Power.
(INR 1.0 = USD 0.137/EUR 0.120)