Power Today |
 
Advertise Here [728 W x 90 H pixels]
Web Exclusive | October 2018

Azure Power raises over USD 400 million from equity and debt financings

Since June 30, 2018, over USD 400 million has been raised from equity and debt financings by Azure Power. Of the USD 400 million, USD 185 million was raised in its first public follow-on offering on the New York Stock Exchange that closed in October 10, 2018, while the rest included various project debt financings and short-term debt facilities.

Weighing an average tariff of 17 per cent higher than the lowest solar bid in the market, the company is well capitalised to deliver its contracted solar pipelines of over 2 GW, which is one of the largest solar project pipelines in the country. Despite having one of the largest solar portfolios in the country, the company believes that collectively this is the largest amount of financing raised by a solar power company in India during this period. Azure Power’s follow-on offering attracted support from new and existing investors such as La Caisse de dépôt et placement du Québec (CDPQ), International Finance Corporation Global Infrastructure Fund (IFC GIF) and International Finance Corporation (IFC).

“The recent financings were done against a challenging economic backdrop but at the same time this is a testament to the quality of assets that we are developing and the strength of the solar platform that we have built. We are thankful to all our stakeholders and investors in helping us make significant contributions towards the realisation of our Prime Minister’s commitment towards clean and green energy through solar power generation,” concluded Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power.

Post your comment
Name:  
Email:    
Comments:  
Verification Code:   Change Image

 

Posted Comment
1 .     Yogesh Says:
17 Oct 2016
I wish to start pvc / pp electric wire unit in Delhi. What kind of information I can get if I subscribe for your magazine

2 .     Sarfaraj Bilakhiya Says:
20 Sep 2016
Pls invite me all auction in gujarat

3 .     k.natarajan Says:
20 Jun 2016
we are doing business developing for solar power ,thermal power , customer supporting and we have 45 mw splar power on hand needs investors..... thanks lot pls call +910842559230 +919842753550


Advertise Here [728 W x 90 H pixels]