Azure Power Global Ltd. (AZREF)

Overview

Azure Power Global Limited is a leading renewable energy developer and independent power producer based in India, specializing in the development, ownership, and operation of grid-scale solar, wind, and hybrid projects. With a commitment to sustainable energy, the company delivers renewable power to a variety of clients, including government utilities and independent industrial and commercial customers, under long-term power purchase agreements. Founded in 2008, Azure Power has grown significantly, boasting an extensive portfolio that includes operational, contracted, and awarded capacity totaling 4,278 MW. This capacity comprises not only large-scale projects but also 86.5 MW of rooftop installations, signifying a diverse approach to harnessing renewable sources of energy. Located in Gurugram, India, Azure Power is at the forefront of the country's shift towards cleaner, more sustainable power solutions.

Products and Services

• Grid-Scale Solar Projects

Azure Power specializes in the development, ownership, and operation of large solar energy projects connected to the grid. These projects are designed to generate solar power at a utility scale, contributing significantly to reducing carbon footprint and supplying renewable energy to government utilities and private sectors under long-term agreements.

• Wind Energy Projects

The company also develops wind energy projects, harnessing the power of wind to produce clean electricity. These projects complement the company's solar energy portfolio, allowing Azure Power to offer a diverse range of renewable energy solutions to meet the varying needs of its customers.

• Hybrid Projects

Azure Power is at the cutting edge of renewable energy innovation with its hybrid projects, which combine solar and wind energy generation in a single project. This approach not only optimizes the use of available land but also ensures a more stable and reliable power supply, leveraging the strengths of both solar and wind energy.

• Rooftop Solar Capacity

Aside from large-scale projects, the company also offers rooftop solar solutions. With 86.5 MW of rooftop capacity, Azure Power caters to the renewable energy needs of industrial and commercial customers. These solutions are pivotal for businesses looking to reduce energy costs and carbon footprints, marking Azure Power as a versatile player in the renewable energy market.

• Power Purchase Agreements (PPAs)

Azure Power engages in long-term power purchase agreements (PPAs) to supply renewable energy to its clients, which include government utilities as well as independent industrial and commercial customers. These agreements ensure a steady and reliable supply of clean energy, facilitating the transition towards sustainable power consumption.