Aug 7 2010
Azure Power, a renewable energy project developing company has turned out to be the first company with a photovoltaic (PV) plant to function under the guidance of National Solar Mission of India.
The memorandum of understanding signed by the company with NTPC Vidyut Vyapar Nigam makes Azure Power the first company to run a private solar power project under the recently constituted Jawaharlal Nehru National Solar Mission.
Inderpreet Wadhwa with Dr Farooq Abdullah
More than 60 companies have made their applications to produce power under the solar mission, and 16 companies were chosen to sign the partnership agreement with the solar mission. Among the chosen companies Azure Power was the only company that was able to reach a financial closure with its partially commissioned solar plant. The signed agreement will entitle Azure Power to start collecting tariff under the newly formulated power policy for the 2MW power provided by its plant located in Awan Punjab.
Inderpreet Wadhwa, who leads Azure Power as its CEO, said as a first private company to install a solar power plant with grid connected capability, he feels elated to supply solar power to NTPC. He added the current action is only an indication of their anticipated growth and aim to be the leading company in solar power sector. During the signing of MOU Dr Farooq Abdullah, Union Minister for New and Renewable Energy and Shri Sushilkumar, Union Minister for Power were present.