The MoU – memorandum of understanding (MoU) has been signed between Azure Power and the government of Rajasthan to develop a 1,000 MW solar power project.
Azure power has become the largest private sector investor in the state of Rajasthan. The power plant which will be spread across725 acres of land at Hardhani and Nandia Kalan in Jodhpur becomes is the largest capacity project contract bagged under the JNNSM – Jawaharlal Nehru National Solar Mission -Phase II.
The mission was launched by the government of India in 2010 to generate 20,000 MW of solar power by the end of the 13th Five Year Plan in 2022.
With total investment capital of over Rs.1, 300 crore, the project is expected to supply electricity to 100,000 houses and create an about 1,500 jobs in the area. The project is scheduled to be ready by April 30, 2015.
Azure has successful brought down the cost per unit from Rs.17 in 2009 to Rs.5.45 with viability gap funding in 2014.