With New Solar Projects Commissioned, Azure Power’s Revenue Rises 29% in Q4 FY 2020

With New Solar Projects Commissioned, Azure Power’s Revenue Rises 29% in Q4 FY 2020

Azure Power has announced its consolidated results for the fourth quarter (Q4) of the financial year (FY) 2020. The company stated that its revenues stood at ₹3.67 billion (~$48.75 million), ...
CERC Approves Tariff of ₹2.54_kWh to Procure 100 MW of Solar Power from SECI

CERC Approves Tariff of ₹2.54/kWh to Procure 100 MW of Solar Power from SECI

The Central Electricity Regulatory Commission (CERC) has approved a tariff of ₹2.54 (~$0.035)/kWh as requested by Tata Power Delhi Distribution Limited (TPDDL) to procure 100 MW of solar power from ...
Azure Power’s Revenue up 25%, Net Loss Rises Amid Higher Expenses and Curtailment in AP

Azure Power’s Revenue up 25%, Net Loss Rises Amid Higher Expenses and Curtailment in AP

Azure Global Power Limited reported revenue of ₹3.05 billion (~$42.6 million) for Q3 FY20, an increase of 25% year-over-year but the company still registered a net loss of ₹1.36 billion ...
/ / Finance and M&A, Solar
APTEL Asks MERC to Release Azure Power’s Bank Guarantee for 150 MW of Solar Projects

APTEL Asks MERC to Release Azure Power’s Bank Guarantee for 150 MW of Solar Projects

The Appellate Tribunal for Electricity (APTEL) has asked the Maharashtra Electricity Regulatory Commission (MERC) to release the bank guarantee from Azure Power’s 150 MW solar project within two weeks. Considering ...
/ / Markets & Policy, Solar
China’s TBEA Set to Launch its 2 GW Inverter Factory in Bengaluru

China’s TBEA Set to Launch its 2 GW Inverter Factory in Bengaluru

TBEA Xi’an Electric Technology Co., an affiliate of the TBEA Group, has announced that it will be unveiling its GW solar inverter factory on November 29, 2019, in Bengaluru. The ...
/ / Inverters & BOS, Solar
CERC Dismisses Azure Solar’s Claim for GST Compensation on O&M Expenses

CERC Dismisses Azure Solar’s Claim for GST Compensation on O&M Expenses

The Central Electricity Regulatory Commission (CERC) has dismissed the petitions filed by Azure Power against the National Thermal Power Corporation (NTPC) and Solar Energy Corporation of India Ltd. (SECI) requesting ...
/ / Markets & Policy, Solar
Azure Power and ReNew Power Were the Top Utility-Scale Solar Developers During 1H 2019

Azure Power and ReNew Power Were the Top Utility-Scale Solar Developers During 1H 2019

In the first half of this year (1H 2019), Azure Power, ReNew Power, Sprng Energy, and Tata Power emerged as the top four developers of utility-scale solar power projects in ...
/ / Mercom Research Focus, Other
Canada’s Institutional Investor CPDQ to Invest $75 Million in Azure Power

Canada’s Institutional Investor CDPQ to Invest $75 Million in Azure Power

Caisse de dépôt et placement du Québec (CDPQ), one of Canada’s leading institutional investors, has announced that it will invest $75 million in Azure Power Global Limited, a solar power ...
/ / Finance and M&A, Solar
Urja Global to Issue Green Bonds of up to $500 Million to Finance Renewable Projects & EVs

Urja Global to Issue Green Bonds of up to $500 Million to Finance Renewable Projects & EVs

Urja Global Limited has announced that it has received the approval to raise green bonds of up to $500 million (₹35.64 billion) to finance renewable projects and electric vehicles (EVs) ...
/ / Finance and M&A, Other
Solar Developer Azure Power to Float $350 Million Green Bond

Solar Developer Azure Power to Float $350 Million Green Bond

Azure Power Solar Energy Private Limited, a wholly-owned subsidiary of Azure Power Global Limited has announced that it will issue a green bond offering of $350 million (~₹25 billion). The ...
/ / Finance and M&A, Solar
Azure’s Revenue Up by 40% in Q1 of 2020 Driven by Newly Operational Solar Projects

Azure’s Revenue Up by 40% in Q1 of Fiscal 2020 Driven by Newly Operational Solar Projects

Azure Power, an independent solar power producer, has announced its consolidated financial results for the first quarter (Q1) of the financial year (FY) 2019-20. The company generated a revenue of ...
/ / Finance and M&A, Solar
Azure’s Petition before MERC Seeking Declaration of GST as Change in Law Dismissed

Azure’s Petition before MERC Seeking Declaration of GST as Change in Law Dismissed

The Maharashtra Electricity Regulatory Commission (MERC) has dismissed a plea requesting that the introduction of Goods and Services Tax (GST) be treated as a ‘Change in Law’ event. The petition, filed ...
Newly Commissioned Solar Projects Drive Azure’s Revenue Up 26% to $41 Million in Q4 2019

Newly Commissioned Solar Projects Drive Azure’s Revenue Up 26% to $41 Million in Q4 2019

Independent solar power producer Azure Power (NYSE: AZRE) has announced its consolidated financial results for the fourth quarter of the financial year (FY) ending March 31, 2019. The company generated ...
CERC Dismisses Adani Green’s Petition Against Power Grid Corporation

Maharashtra Commission Rejects Solar Power Developer’s Petition for GST Compensation

Independent solar power producer Azure Power’s petition to Maharashtra Electricity Regulatory Commission (MERC), requesting to order Maharashtra State Power Generation Company (MSGPCL or MAHAGENCO) to compensate the company for the ...
Rajasthan’s Bhadla Solar Park Sees Commissioning of 200 MW by Azure and ReNew

Rajasthan’s Bhadla Solar Park Sees Commissioning of 200 MW by Azure and ReNew

200 MW of grid-connected solar photovoltaic (PV) projects have been commissioned at Rajasthan’s Bhadla Phase-III Solar Park. The Solar Energy Corporation of India (SECI) had tendered 250 MW of grid-connected ...
/ / Markets & Policy, Solar
SECI Extends Bid Submission Deadline for its 2 GW Solar Tender

Azure Likely to Get Compensated for Increase in Solar Project Cost Due to Levy of Safeguard Duty

The Maharashtra Electricity Regulatory Commission (MERC) has provided relief to Azure Power in two cases in which it had requested the commission to consider the levy of safeguard duty as Change ...
/ / Markets & Policy, Solar
Lowest Tariff of ₹2.55/kWh Wins SECI’s 1.2 GW ISTS Solar Auction

Lowest Tariff of ₹2.55/kWh Wins SECI’s 1.2 GW ISTS Solar Auction

ReNew Power has emerged as the L1 bidder by quoting the lowest tariff of ₹2.55 (~$0.035)/kWh to develop 300 MW in the recent auction conducted by the Solar Energy Corporation of ...
/ / Solar, Tenders & Auctions
New Solar Projects Drive Azure Power’s Revenue Up by 22% to $30.7 Million in Q2 2019

Solar Developer Azure Power’s Revenue Increases by 40% to $35 Million in Q3 of FY2019

Azure Power (NYSE: AZRE) has announced its consolidated results for the third quarter ending December 31, 2018. The total revenue in the third quarter of FY19 stood at ₹2.430.8 million ...
/ / Markets & Policy, Solar
India’s Safeguard Duty Investigation Draws Criticism at WTO

Azure Power Moves Gujarat High Court Against Solar Safeguard Duty, Gets Interim Relief

The Gujarat High Court has provided temporary relief to project developer Azure Power in the matter of levy of safeguard duty on solar cells and modules imported by the company ...
/ / Markets & Policy, Solar
Solar Auctions in 2018: Who Had the Biggest Share of the Pie?

Solar Auctions in 2018: Who Had the Biggest Share of the Pie?

India's solar market is on a roll with over 24 GW of large-scale solar photovoltaic (PV) capacity installed in the country as of December 2018. According to Mercom India Research, ...
/ / Mercom Research Focus, Other
New Solar Projects Drive Azure Power’s Revenue Up by 22% to $30.7 Million in Q2 2019

New Solar Projects Drive Azure Power’s Revenue Up by 22% to $30.7 Million in Q2 2019

Azure Power (NYSE: AZRE), an independent solar power producer, has announced its consolidated results for the second quarter ending September 30, 2018. Total revenue in the second quarter of FY19 ...
/ / Markets & Policy, Solar
CDPQ Increases its Stake in Azure Power to 40%

CDPQ Increases its Stake in Azure Power to 40%

Caisse de dépôt et placement du Québec (CDPQ), a long-term institutional investor, has announced an increase in its stake in Azure Power Global Ltd (Azure Power). Azure Power is a leading ...
/ / Finance and M&A, Solar
Azure Power and Maheswari Mining Win APDCL Tender for 85 MW of Solar Projects in Assam

Azure Power and Maheswari Mining Win APDCL Tender for 85 MW of Solar Projects in Assam

The Assam Power Distribution Company Limited (APDCL) has auctioned 85 MW of grid-connected solar photovoltaic (PV) projects to be developed across the state. APDCL has awarded 75 MW of grid-connected ...
Azure Power Raises $135 Million to Develop 200 MW of Rooftop Solar Projects

Azure Power Raises $135 Million to Develop 200 MW of Rooftop Solar Projects in India

Indian renewable energy project developer Azure Power has raised $135 million in debt financing from a consortium of development finance institutions. The proceeds will be used to finance approximately 200 MW of ...
Azure Power and Shapoorji & Pallonji Win 250 MW of Solar Projects Tendered by MAHAGENCO

Azure Power and Shapoorji & Pallonji Win 250 MW of Solar Projects Tendered by MAHAGENCO

The Maharashtra State Power Generation Company (MAHAGENCO) has awarded solar photovoltaic (PV) projects totaling 250 MW under agricultural (AG) feeder program. The winning bidders are Azure Power and Shapoorji & Pallonji, ...