Azure Power announced that it has tied up US$ 135 million, with a consortium of Development Finance Institutions. The proceeds will be used to finance approximately 200MWs of Azure Power’s solar rooftop projects across India.
Linda Broekhuizen, Chief Investment Officer FMO said "FMO is committed to making a positive impact on green financial development. Earlier, we had invested approximately US$ 30 million in Azure Power, and this will be our second investment in the company, which is testament to FMO's commitment to clean energy initiatives in India and our support of Azure Power."
Commenting on the occasion, Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, "We are pleased to announce the largest solar rooftop financing in India. This financing will enable us to rapidly expand our Azure Roof Power platform in India and lower the energy bills of our customers by providing clean and sustainable solar energy. Rooftop financing in India remains challenging and this facility is a testament to our strong financing, project development, engineering and execution capabilities. We are delighted to make this contribution towards the realization of India's ambitious rooftop targets and our Hon'ble Prime Minister's commitment towards clean and green energy, through solar power generation."