Solar Project Cost to Increase by 24% with Basic Customs Duty on Modules: Interview
The Indian solar industry is gradually returning to normalcy after facing several challenges in the past two years due to the Covid-19 pandemic and adverse market conditions. The second quarter ...
Tariffs of Manufacturing-Linked Solar Projects Reduced to ₹2.54/kWh from ₹2.92/kWh
The tariff of ₹2.92 (~$0.04)/kWh discovered in the manufacturing-linked solar projects auction held in January last year has now been reduced to ₹2.54 (~$0.034)/kWh. Adani Green Energy (AGEL) and Azure ...
APTEL Denies Tariff Cut for a Delayed Solar Project, Allows Recovery of Liquidated Damages
The Appellate Tribunal for Electricity (APTEL), in a recent order, directed a solar developer to pay liquidated damages to the Gulbarga Electricity Supply Company (GESCOM) for the delay of 31 ...
Funding and M&A Roundup: Sunnova Proposes Private Offering of $350 Million Green Bond
From: Mercom Capital Group Sunnova Energy Corporation, a wholly-owned subsidiary of Sunnova Energy, announced that it intends to offer, subject to market conditions, a $350 million aggregate principal amount of green bond (senior ...
OMERS Infrastructure to Acquire 19.4% Stake in Azure Power for $219 Million
OMERS Infrastructure announced that it has signed a stock purchase agreement to acquire a 19.4% stake in Indian independent power (solar) producer Azure Power Global for $219 million from International Finance Corporation (IFC) ...
Tata Power and Azure Power Win MSEDCL’s 500 MW Wind-Solar Hybrid Auction
Tata Power and Azure Power were declared winners in the Maharashtra State Electricity Distribution Company Limited’s (MSEDCL) auction to procure power from 500 MW of from grid-connected interstate and intrastate ...
Azure Power Secures $163 Million Debt Funding for its Solar Project from MUFG
Mitsubishi UFJ Financial Group (MUFG) has announced the completion of a five-year syndicated financing deal of $163 million for Azure Power's 300 MW solar project. The project is being developed in ...
Azure Power Registers 16.2% YoY Rise in Revenue in Q4 FY2021
Azure Power posted a 16.2% year-over-year (YoY) rise in its revenue in the fourth quarter (Q4) of the financial year (FY) 2021, driven by projects commissioned in FY 2021. Other reasons ...
Solar Developer’s Plea for GST Compensation Dismissed by Maharashtra Commission
Citing an increase in costs as a result of a change in the rate of Goods and Services Tax (GST), Azure Power Thirty Four, a wholly-owned subsidiary of Azure Power, ...
Solar Developer Seeks CERC’s Help to Align Long-Term Access with Project Commissioning
Independent power producer Azure Power had recently approached the Central Electricity Regulatory Commission (CERC), seeking a deadline extension from Power Grid Corporation of India Limited (PGCIL) to lay the transmission ...
PLI Program: Higher the Efficiency of Solar Modules, Higher the Incentive
The Covid-19 pandemic and the subsequent nationwide lockdown capped off a turbulent 2020 for the Indian solar sector. The pandemic affected the solar supply chain and brought the solar industry ...
With the Commissioning of New Solar Projects, Azure’s Revenue Rises by 23% in Q2
Azure Power, a leading solar power developer, has announced its consolidated results for the second quarter (Q2) of the financial year (FY) 2021. As per the company's financial statement, the ...
Azure Power Posts 16% Revenue Increase in FY Q1 2021
Azure Power has announced the consolidated results for the first quarter (Q1) of the financial year (FY) 2021. According to the financial statement released by the company, the company registered ...
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
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 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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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) ...
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 ...
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 ...
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 ...
