(EPT): India’s largest solar power producer Azure Power has signed power purchase agreement (PPA) for 600 MW of ISTS-connected solar power projects with Solar Energy Corporation of India (SECI). The agreement was signed under SECI’s 4 gigawatt (GW) manufacturing-linked projects which will supply power for 25 years at a fixed tariff of INR 2.54 per unit. .
The projects will be commissioned in Rajasthan, for which connectivity approval is in place and land under acquisition. The commissioning as per the agreement is in 3rd Qtr. of FY-2024.
“This is a significant milestone, given the long wait. With things now falling into place, we are on our way to see our 4 GW pipeline turn into contracted capacity and help us realise significant value accretion for our stakeholders,” said Ranjit Gupta , MD and CEO, Azure Power.
He added that the firm expects to sign PPAs when the corresponding power sale agreements are in place.