Azure Power ties up with OPIC

Power Watch India - - DESPATCHES FINANCE -

Azure Power, an­nounced its tie-up with Over­seas Pri­vate In­vest­ment Cor­po­ra­tion (OPIC), the US gov­ern­ment’s de­vel­op­ment fi­nance in­sti­tu­tion. The part­ner­ship en­com­passes long term low cost debt fi­nanc­ing fa­cil­ity of US $20 mil­lion for 15 years at a cost of cap­i­tal of 4.74%. The pro­ceeds of the loan will be utilised to con­struct 19 MW new so­lar rooftop projects across mul­ti­ple states in In­dia. In­der­preet Wad­hwa, Founder and Chief Ex­ec­u­tive Of­fi­cer, Azure Power said, “Azure has unique rooftop so­lar power so­lu­tions for dis­tri­bu­tion com­pa­nies in cities across In­dia and in­dus­trial/com­mer­cial con­sumers to lower their cur­rent en­ergy bill and meet their re­new­able pur­chase obli­ga­tions in an en­vi­ron­ment-friendly man­ner. We are pleased to an­nounce our ex­tended part­ner­ship with OPIC which will con­tinue to al­low us to help con­sumers lower their en­ergy bills.”

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