Market Overview

Azure Roof Power to Electrify Government Buildings in Andhra Pradesh


Azure Power (NYSE:AZRE), one of India's leading independent solar power
producers, announced it has won a 5 MW rooftop solar power project in a
bid conducted by New & Renewable Energy Development Corporation of
Andhra Pradesh Ltd (NREDCAP). This is the largest allocation for this
auction, 33% of the total. Azure Power will provide power for 25 years
to various Government buildings in Andhra Pradesh. Azure Power qualifies
for a capital incentive which results in a weighted average levelized
tariff of INR 4.57 (~US cents 6.7) per kWh.

This press release features multimedia. View the full release here:

Azure Power Solar Plant (Photo: Business Wire)

Azure Power Solar Plant (Photo: Business Wire)

Azure Roof Power offers superior rooftop solar power solutions
for commercial, industrial, government, and institutional customers in
cities across India to lower their energy bill and meet their greenhouse
gas (GHG) emission reduction targets. With nearly 200 MWs of high
quality, operating and committed solar assets across 23 states, Azure
Roof Power has one of the largest rooftop portfolios in the country.
Azure Roof Power has a well-diversified customer base with a majority of
the portfolio contracted with Government of India backed entities. Azure
Roof Power customers include large commercial real estate companies, a
leading global chain of premium hotels, distribution companies in smart
cities, warehouses, Delhi Metro Rail Corporation, Indian Railways, a
Delhi water utility company and various Government of India Ministries.

Speaking on this occasion, Mr Vishal Jain, DGM, Azure Roof Power
said "Azure Roof Power offers tremendous value to its customers within
the solar rooftop category across various segments. Our solutions help
lower the energy cost of customers and meet their greenhouse (GHG)
emission reduction targets. Given our strong presence in Andhra Pradesh
of 200 MWs in the utility segment, our foray into rooftop in the state
is a natural extension of our expertise in implementing solar power
projects. With this win, we are glad to expand our presence in the state
and make a contribution towards the initiative of the government of
Andhra Pradesh to go solar."

About Azure Power

Azure Power (NYSE:AZRE) is a leading independent solar power producer
with a pan-Indian portfolio. With its in-house engineering, procurement
and construction expertise and advanced inhouse operations and
maintenance capability, Azure Power provides low-cost and reliable solar
power solutions to customers throughout India. It has developed,
constructed and operated solar projects of varying sizes, from utility
scale, rooftop to mini & micro grids, since its inception in 2008.
Highlights include the construction of India's first private utility
scale solar PV power plant in 2009 and the implementation of the first
MW scale rooftop project under the smart city initiative in 2013.

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