Azure Power Fully Commissions 300 MW Bhadla Solar Project in Rajasthan

India’s one of the leading independent power producers (IPP) Azure Power has fully commissioned its 300 MW Interstate Transmission System (ISTS) connected solar power project in Bhadla, Rajasthan.

The project was allocated by the state-owned Solar Energy Corporation of India (SECI), and the power generated from the project is being supplied to SECI at a tariff of Rs 2.58 (~US $3.7 cents) per kWh for 25 years.
 
Following this, the company has now operationalized 2,683 MWs of high-performing renewable energy assets in India.
 
Commenting on the development, Ranjit Gupta, MD and CEO of Azure Power, said “we are extremely delighted with the progress we have made in operationalizing our under-construction projects, despite the health and supply chain challenges in the last two years. We have operationalized close to 700 MWs in this fiscal year so far, which reflects our strong project development and execution capabilities.”
 
In February this year, the company had refinanced its existing project finance facility of Rs 23.50 billion for the construction of a 600 MW ISTS connected solar project in Bikaner, Rajasthan. The project was fully commissioned in December last year.

Also, the refinancing has been completed at a 7.2 per cent per annum interest rate, which was fixed for 42 months and the lowest rate of interest for any project finance facility in terms of rupee financing for the company’s existing portfolio so far.