AZURE POWER COMMISSIONS 150 MW SECI SOLAR POWER PROJECT

Azure Power, a leading solar power producer in India, announced that it has commissioned a 150 MW solar power plant in Bhadla solar park in Rajasthan. This section is the first phase of 200 MWs allocated to Azure Power by Solar Energy Corporation of India (SECI), a Government of India enterprise and a company with AA+ debt rating by ICRA, a Moody's Company. Azure Power will supply power to SECI at a tariff of INR 2.48 (~US 3.6 cents) per kWh for 25 years. With this project commissioned, Azure Power now has ~1600 MWs of high-quality operational solar assets. This makes Azure Power's portfolio the highest rated large-scale (1) solar operating portfolio in India with 68% of the company's portfolio with A to AAA domestic rated counterparties. The company also has the most diversified solar portfolio in India in highest radiation zones, spread across 24 states, including a leading solar rooftop portfolio of over 200 MWs, out of which ~81% of the projects are with sovereign counterparties.