Benzinga | Nov 11, 2021 06:32AM EST

Azure Power Wins Its First 150 MW ISTS Hybrid Power Project With SECI; No Financial Terms Disclosed

Azure Power (NYSE:AZRE) announced that it has received the letter of award (LOA) for its first 150 MW ISTS connected wind--solar hybrid power project with Solar Energy Corporation of India (SECI) to supply power for 25 years at a fixed tariff of INR 2.35 ( 3.2 cents) per kWh. The project is part of the 1,200 MW ISTS Hybrid Tranche -- IV tender from SECI and will entail setting up of 100 MW of solar and 50 MW of wind capacity within a period of 18 months from the signing of Power Purchase Agreement (PPA).