Azure Karnataka

completed

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.