Azure Power announced that it has received a letter of award (LoA) for 2 GW of interstate transmission system (ISTS) solar projects under the greenshoe option in the Solar Energy Corporation of India’s (SECI) manufacturing-linked solar tender for 7 GW of solar capacity with a 2 GW solar manufacturing component.
The independent power producer said that it was awarded this LoA in addition to the 2 GW of solar projects it had previously won under the greenshoe option of SECI’s tender. Under this greenshoe LoA, the company is expected to supply power for 25 years at a tariff of ₹2.92 (~$0.039)/kWh. The project also includes a 500 MW cell and module manufacturing capacity requirement.
It added that it has been awarded a total of 4 GW including the auction it had won in December, which saw one of the largest solar projects ever awarded globally.