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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, 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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