In India, some
300 million
people without access to electricity
40%
of solar energy in India’s energy mix by 2030
Azure Power is one of India’s largest photovoltaic operators. PROPARCO has been supporting it since 2013 for the development of renewable energy projects in the country.
The company develops both small and large capacity solar parks and photovoltaic projects installed on the rooftops of buildings or hotels. All these projects are in line with the national objectives for solar energy development.
In 2018, PROPARCO allocated a USD 40m loan to Azure Power to finance the installation of over 500 solar rooftops over the next five years.
A “100% Paris Agreement” project in line with India’s low-carbon path
Delhi, Inde Centrale solaire Azure Power
Azure Power Inde
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panneaux solaires
Fotolia
India committed to solar energy
India aims to increase the share of solar energies to 40% of its energy mix by 2030. More specifically, the country wants to reach 100 GW of installed solar capacity by 2022, 40% of which should come from solar systems installed on rooftops.

Azure Power is a pioneer on the solar market. The company also installed India’s first solar power plant in 2009.

“We wanted to support the Indian Government’s efforts to develop the renewable energies sector and particularly solar energy”, comments Mohor Sen, Chief Administration Officer of Azure Power.
Toiture solaire en Inde
Azure Power
Azure Power: a leader in solar energy development in India
Azure Power develops an extensive range of solar projects: from large-scale photovoltaic power plants for the power grid to small production units on the rooftops of shops and industries.

The many projects developed by Azure Power include the Delhi 1 solar power plant, with a capacity of 2 MW and located in Delhi, which used to house a coal-fired power plant. This solar park symbolizes India’s energy transition.

“We installed the solar panels in 2010 in less than 10 days”, explains Mohor Sen, Chief Administration Officer of Azure Power. “To increase the efficiency of the power plant, the panels can be tilted depending on the orientation of the sun.”

The company today has 600 employees.
Panneaux solaires sur le toit d'un tribunal à Delhi
Laetitia Pham
Solar rooftops: a promising segment
In five years, the installed capacity of the solar rooftop activity in India has tripled, to already 1.9 GW in 2017.

Rooftop projects have two advantages: they benefit from higher feed-in tariffs than the conventional solar activity and lower installation costs – some 30% less than for conventional solar power plants.

Azure Power set up the first solar rooftop with a capacity of over 1 MW in 2013.
Uttar Pradesh Rooftop en Inde avec Azure Power
Azure Power
Already five years of partnership between Azure Power and Proparco
Proparco has supported the group’s strong growth by making two equity investments totaling USD 17.8m (3.5% of the capital). These longstanding relations prompted the CEO of Azure Power, Inderpreet Wadhwa, to call on PROPARCO again in the context of a USD 135m facility dedicated to the development of solar rooftops.

Consequently, in June 2018, Proparco signed a new loan to develop over 500 solar rooftops for commercial, industrial and government clients.
Toiture solaire en Inde avec Azure Power
Azure Power
Proparco’s first solar rooftop project
In June 2018, PROPARCO allocated a USD 40m loan to Azure Power to finance over 500 solar rooftops for commercial, industrial and government clients. The objective: develop between 150 and 200 MW of solar rooftops over the next five years.

The project is expected to create or support 110 direct jobs over the next 5 years and some 30,000 temporary jobs during the construction phases for the facilities. Training will be given to employees for the operation and maintenance of the systems.

This “100% Paris Agreement” project is in line with India’s low-carbon path. It expects to reduce CO2 emissions by some 282,000 tons a year.


On the economic front, the rooftop activity allows the public authorities to avoid making heavy investments in upgrading transmission and distribution grids. Consumers will also pay less for their electricity than on the grid.
AZURE POWER: A PIONEER IN PHOTOVOLTAICS IN INDIA

A short film on the activity of Azure Power, one of India’s largest photovoltaic operators, for the development of renewable energy projects in the country.