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Wed, Sep

Azure Power announced it has received a letter of intent for a 6 MW solar project won an auction conducted by Odisha Renewable Energy Development Agency (OREDA) for Hindustan Aeronautics Limited (HAL). The capacity won is 100% of the total capacity allocated. Azure Power expects to sign a 25-year power purchase agreement with HAL which has a domestic debt rating of AAA by CRISIL, a S&P company, at a tariff of INR 3.13 (~US 4.6 cents) per kWh. The project will be developed by Azure Power within HAL estate area of approx 30 acres. HAL is a major domestic supplier of aviation equipment to the Indian defence sector and is governed under the management of the Indian Ministry of Defence.

 

Speaking on this occasion, Mr Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer said, “We are pleased to announce our win with HAL and with this, we continue to demonstrate our strong project development, engineering, and execution capabilities. We are delighted to make this contribution towards the realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation.”


Azure Power has been among the most active participants in solar power auctions since the beginning of the solar power market in India and the majority of the Company’s portfolio are with customers that have some of the best credit ratings in India, most of which are backed by the Government of India.

Canadian Solar Inc. has been awarded a Victorian government support agreement for its greenfield 100MWac Carwarp Solar Project in Australia. This award guarantees revenue for 100% of the energy produced by the Carwarp Solar Farm for the term of the support agreement.Canadian Solar Inc., one of the world's largest solar power companies, today announced that it has been awarded a Victorian government support agreement for its greenfield 100MWac Carwarp Solar Project in Australia. This award guarantees revenue for 100% of the energy produced by the Carwarp Solar Farm for the term of the support agreement.


The project is located near Mildura, Victoria and will utilize Canadian Solar's high-efficiency bifacial modules with the latest single axis tracking technology. Canadian Solar is a pioneer in commercially deploying high efficiency poly PERC bifacial modules with front-side power output up to 365W, with a nominal bifacial rating of 400W. Canadian Solar's bifacial modules will generate extra power output of up to 30% depending on the GCR and light reflection and have a warranted life of 30 years.

 

Canadian Solar plans to commence construction of the project in Q1 2019 and achieve commercial operation in Q1 2020. The solar system will generate 267,000 MWh of electricity every year, equivalent to powering approximately 48,000 homes and reducing greenhouse emissions by 288,000 metric tonnes of greenhouse gases.

 

As part of Canadian Solar's commitment to local investment, the Carwarp Solar Project incorporates support for the local industry and skills development initiatives, including higher education scholarships and training, industry workshops and development programs, support for the integration of renewable energy technology into farming practices, and partnerships with local community organisations, education providers and local start-up businesses.


"We are pleased to secure the prestigious award from the Victorian Government for the Carwarp Solar Project," commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar. "The Victorian Renewable Energy Auction Scheme is a highly competitive tender process and by leveraging our 10-year track record in global project development and execution, we can assist the Victorian Government to reach its renewable energy generation targets."

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