PROJECT

Projects

Summary of Investment Information

Project Number

36716

Company Name

AZURE POWER INDIA PRIVATE LIMITED

Date SPI Disclosed

Nov 4, 2015

Country

India

Region

South Asia

Projected Board Date

Dec 4, 2015

Environmental Category

B - Limited

Status

Completed

Last Updated Date

May 4, 2024

Department

Gbl Infrastructure & Natural Resources

Industry

Infrastructure

Previous Events

Approved : Dec 21, 2015
Invested : Oct 24, 2016

Sector

Solar - Renewable Energy Generation

Project Description

The Project involves development of a 130 MW solar power plant in the state of Karnataka by Azure Power India Private Ltd (“Azure” or the “Sponsor”), an existing IFC client, through three wholly owned subsidiaries Azure Power (Raj.) Private Limited (“APPL”, or “SPV-1”), Azure Sunrise Private Limited (“ASPL”, or “SPV-2”) and Azure Photovoltaic Private Limited (“APVPL”, or “SPV-3”). The three SPVs - APPL, ASPL & APVPL - have been setup for the sole purpose of construction, operation, and maintenance of 40 MW, 50 MW and 40 MW of solar projects respectively and will not have any other operations.

The Project is expected to be commissioned by June 30, 2016. The off-takers will be the three state distribution companies namely Hubli Electricity Supply Company (HESCOM), Chamundeshwari Electricity Supply Company (CESCOM) and Gulbarga Electricity Supply Company (GESCOM).

The three SPVs plan to sign the Engineering, Procurement and Construction (“EPC”) and Operations and Maintenance (O&M”) agreements for the Project with Azure.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation