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Azure Power takes stock of its latest acquisitions

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Indian independent renewable energy producer Azure Power takes stock of its 2021 year, including its acquisitions of renewable assets. Azure Power acquires more than 3GW of renewable energy in 2 months Azure Power seeks and evaluates acquisition opportunities with the ambition of creating value. To this end, on September 30,…

Indian independent renewable energy producer Azure Power takes stock of its 2021 year, including its acquisitions of renewable assets.

Azure Power acquires more than 3GW of renewable energy in 2 months

Azure Power seeks and evaluates acquisition opportunities with the ambition of creating value.
To this end, on September 30, 2021, the company issued $414 million in green bonds.
In November 2021, the company signed an agreement to acquire 600 MW of solar farms from Solar Energy, with a further 2333 MW added in December.
In addition, the company received letters of award for a 120 MW wind project and two other 250 MW solar-wind hybrid projects.

Some ongoing disputes

At the same time, Azure Power is experiencing several favorable outcomes in certain disputes:

  • favorable decision for the 40 MW project in Karnataka.
    An appeal is pending;
  • favorable order for a 50 MW project in the same state;
  • Complaints concerning land acquisition and use in Rajasthan, Assam and Uttar Pradesh.

The company is working to strengthen its social, environmental and transparency policies.

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