Azure Power, a private equity-backed solar energy service provider based in New Delhi, has partnered with SunEdison, North America’s largest solar energy services provider, for developing a 15 megawatt (MW) photovoltaic solar power plant in Gujarat.
As part of the arrangement, SunEdison will supply monitoring technologies at cost to Azure for projects up to 25 MW, it said in a statement. Azure plans to start power production in the Gujarat plant by January 2011, and is targeting to complete the project by November 2011.
SunEdison is a subsidiary of NYSE-listed MEMC Electronic Materials Inc. It currently has over 350 utility scale and commercial solar photovoltaic power plants globally. The company is currently executing a project over 70 MW capacity in Italy, which is claimed to be the largest photo voltaic project in the world.
Inderpreet Wadhwa, CEO, Azure Power, said, in the statement, “With this collaboration, the Azure solar power plant in Gujarat would become a live case study for world class design, engineering, project management, operations and maintenance. From SunEdison we will derive the benefit of technology expertise and international execution experience of large scale solar photo voltaic projects.”
Pashupathy Gopalan, CEO, SunEdison India, said, “India is an ideal market for solar power production and we are committed to aiding the country’s economic development by providing consumers clean and renewable energy solutions.”
In March this year, Azure Power raised $10 million (around Rs 45 crore) from International Finance Corporation (IFC) in a series B round. Its other investors include Helion Advisors and Foundation Capital.
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