Azure Power is one of India’s leading solar energy developers and it designs, finances, owns, and operates solar power plants in India.
The company is one of the 37 companies the Indian government selected in December last year to supply 5 MW of solar power to the national grid.
The company has in the past secured financing from the Overseas Private Investment Corp., a U.S. government body, and the International Finance Corp., a member of the World Bank Group. It has business agreements with China’s solar energy major Suntech Power Holdings Co. and SunEdison LLC, a unit of MEMC Electronic Materials Inc.
Azure Power is currently building 22 megawatts of power projects in the states of Punjab, Rajasthan and Gujarat.
Solar power producer Azure Power has proposed to set up the first solar plant in the Northeast in Meghalaya — a 10 MW power plant with an estimated investment of Rs 150 crore.
The company has set itself an ambitious target of having an installed capacity of 100MW by 2013 and has been actively working with various stakeholders in this regard.
Azure Power has been selected as a finalist and will be showcased in the Sankalp Clean Energy Forum.