Azure Power secures huge financial deal
Indian independent power producer Azure Power has today announced it has secured $470 million in financing to help support its objectives in the Indian solar market. Via a recent initial public offering (IPO), Azure Power was able to tie-up approximately $161 million in pre-IPO funding, while a further $309 million has been raised in project financing to bolster the firm’s 450 MW large-scale and commercial objectives. "The tie-up of one of the largest financing for pure play solar PV projects is a testament to our track record of strong project development, engineering and execution capabilities," said Azure Power CEO Inderpreet Wadhwa.
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