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Azure Power

Azure Power Global Limited, headquartered in New Delhi, India, is an independent power producer, developer, and operator of utility and commercial scale solar PV power plants. In India, the company sells energy to government utilities as well as independent industrial and commercial customers. Azure Power built India's first utility-scale solar project in Awan, Punjab, in 2009. Azure Power's total capacity exceeds 7 GW.

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Solar: Azure way

In 2009, Azure Power's 2 MW Punjab facility was India's first utility-scale solar power plant. In Awan, Punjab, the project provides electricity to 32 villages with a population of over 20,000 people. Azure Power has received funding from Foundation Capital, Helion Ventures, IFC, and the German development bank DEG. Caisse de dépôt et placement du Québec (also known as CDPQ) is the company's largest shareholder, owning more than half of the outstanding shares. Azure Power now has a total capacity of over 7 GW and is one of India's largest developers and operators of utility scale solar assets. As part of World Finance Magazine's Sustainability Awards 2020, Azure Power was named the Most Sustainable Company in the Solar Energy Industry in 2020. Sustainalytics ranked the company as the 10th best renewable energy company for sustainability, or in the top 16th percentile of all global renewable power producers. Furthermore, Azure Power was ranked 21st, or in the top 5%, of the 469 global utilities covered by Sustainalytics.

Azure Power IPO offering:
On October 12, 2016, Azure Power launched an Initial Public Offering (IPO), allowing Indian energy assets to be listed for the first time on the New York Stock Exchange. Azure Power is also the first renewable energy company to go public in the United States since August 2015. Azure Power raised $161 million in its pre-IPO, initial public offering, and concurrent private placement. The vast majority of the funds were used to continue the development of solar power plants in India.

Green Bond
Azure Power issued its first green bond offering in August 2017, with a maturity date of 2022. The bond was certified as green by the Climate Bonds Initiative and was the first solar green bond offered by a company with only solar power assets outside of India. In 2019, the company issued a USD$350 green bond offering.

People of Importance
Ranjit Gupta: Chief Executive Officer
Murali Subramanian: Chief Operating Officer
Pawan Kumar Agrawal is the CFO.
Arno Harris is an independent filmmaker. In addition, he is the founder, CEO, and former chairman of Recurrent Energy.
Barney S. Rush is an independent filmmaker. In addition, he served on the ISO - New England board of directors.
Non-executive Director: Cyril Cabanes In addition, at the Caisse de dépôt et placement du Québec, he is Vice-President, Head of Infrastructure Transactions, Asia-Pacific (CDPQ)
Deepak Malhotra is a non-executive director. In addition, he is the Director of Infrastructure for South Asia at the Caisse de dépôt et placement du Québec (CDPQ)
Supriya Prakash Sen is an independent filmmaker. In addition, he is a Senior Advisor at Mckinsey & Co.
Non-executive Director: M.S. Unnikrishnan He was also the Managing Director and CEO of Thermax Ltd.
Independent Director, Yung Oy Pin (Jane) Lun Leung He also serves on the boards of several global corporations.
Muhammad Khalid Peyrye is an independent filmmaker. In addition, she oversees AAA Global Services Ltd's Corporate Secretarial and Administration cluster.
Azure Power received the US Department of Commerce's Export Achievement Certificate in November 2011 at SolarCon in Hyderabad. Hanwha Q Cells Co., a South Korean solar panel manufacturer, partnered with Azure Power in August 2012 to invest in and build a solar plant in India that would generate enough electricity to power 18,000 homes. Accenture was chosen by Azure Power in 2014 to implement a SAP Enterprise Resource Planning (ERP) solution to support and drive growth in its solar generation business. Accenture will provide implementation services in support of the SAP solution to Azure Power as part of the agreement to help strengthen its business processes and improve planning, budgeting, forecasting, supply chain, and revenue projections.

Commissioned projects
Below are Azure Power’s some of the commissioned projects:

2 MW commissioned in Awan, Punjab.

10 MW Gujarat Solar Park commissioned in Khadoda, Gujarat
5 MW commissioned in Nagaur, Rajasthan

35 MW commissioned in Nagaur, Rajasthan

34 MW commissioned in Sri Muktsar Sahib, Punjab

100 MW commissioned in Jodhpur, Rajasthan
30 MW commissioned in Durg, Chhattisgarh
10 MW commissioned in Chitragurga, Karnataka
10 MW commissioned in Mahoba, Uttar Pradesh
5 MW commissioned in Jaisalmer, Rajasthan
2 MW commissioned in Delhi
100 MW commissioned in Andhra Pradesh

50 MW won in Uttar Pradesh
50 MW commissioned in Andhra Pradesh
10 MW commissioned in Bihar
28 MW commissioned in Punjab
10 MW commissioned in Karnataka
100 MW commissioned in Telangana
50 MW commissioned in Andhra Pradesh
150 MW commissioned in Punjab

2 MW commissioned in Maharashtra
5 MW commissioned in Maharashtra
50 MW commissioned in Uttar Pradesh
130 MW commissioned in Karnataka
100 MW commissioned in Andhra Pradesh

100 MW commissioned in Telangana
40 MW commissioned in Uttar Pradesh
50 MW commissioned in Andhra Pradesh
260 MW commissioned in Gujarat

100 MW commissioned in Karnataka
200 MW commissioned in Rajasthan
130 MW commissioned in Rajasthan

25 MW commissioned in Assam[
150 MW commissioned in Rajasthan

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