Form 6-K Azure Power Global Ltd For: Jan 09
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
January 9, 2018
Commission File Number 001-37909
AZURE POWER GLOBAL LIMITED
3rd Floor, Asset 301-304 and 307,
Worldmark 3, Aerocity, New Delhi 110037, India
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ☒ Form 40 F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1). ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7). ☐
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|AZURE POWER GLOBAL LIMITED|
|By:||/s/ Inderpreet Singh Wadhwa|
Name: Inderpreet Singh Wadhwa
Title: Principal Executive Officer
Date: January 9, 2018
|99.1||Press Release dated January 9, 2018|
Azure Power Wins 200 MWs in SECI Auction
New Delhi, January 9, 2018: Azure Power (NYSE: AZRE), one of Indias leading independent solar power producers, announced it has won a 200 megawatt (MW) solar power project through an auction conducted by Solar Energy Corporation of India (SECI), a Government of India enterprise and a company with a AA+ debt rating by ICRA, a Moodys Company. Azure Power will sign a power purchase agreement with SECI to supply power at a tariff of INR 2.48 (~US$ 0.04) per kWh for 25 years. The solar plant will be set up at Bhadla Solar Park in Rajasthan and is likely to be commissioned in 2019.
The 200 MW allocation is the largest by SECI in this auction, 80% of the total. Azure Power has a long history of developing and operating solar power plants with SECI. In 2015, Azure Power developed a 100 MW solar power plant outside a solar park in the state of Rajasthan, which was SECIs first allocation and also the largest solar power project under Indias National Solar Mission at commissioning. Today, Azure Power stands with over a 400 MW portfolio with SECI.
Speaking on this occasion, Inderpreet Wadhwa, Founder and Chief Executive Officer, Azure Power said, Our long history of superior solar power operations with SECI right from the inception of National Solar Mission has contributed to our success of procuring one of the largest solar power contracts with SECI. We are delighted to make this contribution towards realization of our Honble Prime Ministers commitment towards clean and green energy, through solar power generation.
About Azure Power
Azure Power (NYSE: AZRE) is a leading independent solar power producer in India with a portfolio of over 1,600 MWs across several states and union territories. With its in-house engineering, procurement and construction expertise and advanced in-house operations and maintenance capability, Azure Power provides low-cost and reliable solar power solutions to customers throughout India. It has developed, constructed and operated solar projects of varying sizes, from utility scale, rooftop to mini & micro grids, since its inception in 2008. Highlights include the construction of Indias first private utility scale solar PV power plant in 2009 and the implementation of the first MW scale rooftop project under the smart city initiative in 2013.
For more information, visit: www.azurepower.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995, including statements regarding the Companys future financial and operating guidance, operational and financial results such as estimates of nominal contracted payments remaining and portfolio run rate, and the assumptions related to the calculation of the foregoing metrics. The risks and uncertainties that could cause the Companys results to differ materially from those expressed or implied by such forward-looking statements include: the availability of additional financing on acceptable terms; changes in the commercial and retail prices of traditional utility generated electricity; changes in tariffs at which long term PPAs are entered into; changes in policies and regulations including net metering and interconnection limits or caps; the availability of rebates, tax credits and other incentives; the availability of solar panels and other raw materials; its limited operating history, particularly as a new public company; its ability to attract and retain its relationships with third parties, including its solar partners; its ability to meet the covenants in its debt facilities; meteorological conditions and such other risks identified in the registration statements and reports that the Company has filed with the U.S. Securities and Exchange Commission, or SEC, from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and the Company assumes no obligation to update these forward-looking statements.
Nathan Judge, CFA
Investor Relations, Azure Power
+91-11- 4940 9854
Marketing, Azure Power