AZRE - Azure Power signs 2333 MW PPA with SECI; obtains letter of award for second hybrid project

Azure Power (NYSE:AZRE) signed its largest-ever Power Purchase Agreements with Solar Energy Corporation of India ('SECI') for a capacity of 2,333 MW of ISTS connected solar power projects under the 4 GW manufacturing linked projects. The deal follows the 600 MW PPA signed last month under the same tender. Projects developed under this PPA will supply power for 25 years at a fixed tariff of INR 2.42 (~US 3.3 cents) per kWh and constructed in Rajasthan. The connectivity approval for the projects is already in place, and land is fully identified and is under acquisition. These projects are scheduled in phases, with 1,000 MW by November 2024, 1,000 MW by November 2025, and 333 MW by November 2026. In addition, the company also received the Letter Of Award for its second wind–solar hybrid power project of 200 MW from MSEDCL to supply power for 25 years at a fixed tariff

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Azure Power signs 2,333 MW PPA with SECI; obtains letter of award for second hybrid project