PanaHome Corporation, ENERES Co., Ltd, IBJ Leasing Co., Ltd. and the Public Enterprises Agency of the Hyogo Prefectural Government plan to embark on the urban development of a microgrid system (a regional energy distribution management system) (*1) starting October 2017.

 

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171005005546/en/

 

Area where PanaHome's Smart City Shioashiya Solar-Shima is being developed (Graphic: Business Wire)

Area where PanaHome's Smart City Shioashiya Solar-Shima is being developed (Graphic: Business Wire)

[Video] Launch of Japan's First Microgrid System with a Total of 117 Homes - Smart City Shioashiya
https://www.youtube.com/watch?v=8Br0QgUxvK4

 

The microgrid system will power a total of 117 homes in Zone D4 of Smart City Shioashiya Solar-Shima, which is being designed and developed by PanaHome in Ashiya City, Hyogo Prefecture. On August 9, 2017, the project was selected as a part of the Ministry of Economy, Trade and Industry's subsidy program to promote local energy production for local consumption by leveraging regional characteristics.

 

This is a joint project being carried out by PanaHome, ENERES, IBJ Leasing and the Public Enterprises Agency. The project concept is a "town interconnected by energy for living." PanaHome purchased land that was developed by the Public Enterprises Agency. Panasonic Corporation and the City of Ashiya are also cooperating with the development of this project. A part of the project entails building Japan's first (*2) microgrid system. Solar energy will be used to power 80% or more (*3) of the entire housing district. This will be made feasible by running private power distribution lines (*4) to the housing district and sharing power between homes. Even when the district becomes disconnected from the traditional electrical grid during emergencies, the private power distribution lines can continue to supply power via specific circuits. Private power distribution lines make it possible to receive power and flexibly set power rates. Consequently, this poses a number of benefits for homeowners including, a 20% cut in their electricity bill. Another key goal is to contribute to the environment, mainly by maximizing use of renewable energy to reduce CO2 emissions. Going forward this project will contribute to solutions for sharing electric power between buildings, preventing blackouts in areas overseas where power grids are weak, and in showcasing these solutions overseas.

 

[Responsibilities of each project participant]

 

Applicants

 

- PanaHome (Main applicant)
Design, development, housing construction, and overall planning of the smart city

 

- ENERES (Joint applicant)
Energy management services

 

- IBJ Leasing (Joint applicant)
Own and manage private power distribution lines

 

- Hyogo Public Enterprises Agency (Joint applicant)
Residential land development and regional cooperation

 

[Partners]

 

- City of Ashiya, Hyogo Prefecture
Regional collaboration for urban development of Shioashiya

 

- Panasonic Corporation
Collaboration on power storage management systems, technical support, and the safety and management of private power distribution lines

 

[Background]

 

In the wake of the Great East Japan earthquake, demand emerged for the introduction of distributed energy systems highly resilient to disasters. The quake made it apparent that centralized energy systems were vulnerable to such disasters. Meanwhile, it has also become necessary to flexibly offset the unstable supply of electric power with a considerable expansion in the use of renewable energy. In addition, there is a need to shift from the wider use of solar power via the feed-in tariff (FIT) scheme, to the expanded use of solar power sources via the effective use of local energy production for local consumption.

 

Since 1998, Hyogo Prefecture and the City of Ashiya have been carrying out development in the Shioashiya area, which is in the Minami Ashiya-hama district, based on the concept of urban development that connects people. From 2012, PanaHome embarked on the development of Smart City Shioashiya Solar-Shima, which is comprised of roughly 400 individual homes and 3 condominium complexes (total of 83 condos). The company's highly energy-efficient buildings and its large-scale urban development which maximizes the use of renewable energy has won the company high praise, even from overseas. The company recently won a Gold Award in the "Smart Buildings" category of the 3rd APEC (Asia Pacific Economic Cooperation) ESCI (*5) Best Practice Awards.

 

[Overview of the microgrid system and the specified supply (*6) scheme]

 

A solar power generator (4.6kW), storage cell (11.2kWh) and HEMS (*7) has been installed in each of the homes in this project. Within the housing district, each home's storage cell is connected by private power distribution lines. The storage cell control unit makes it possible to reverse the power flow current and mutually share electric power between homes. This is the first such microgrid system (regional energy distribution system) in Japan.

 

Specified supply scheme using private power distribution lines

 

The management association consists of homeowners of the 117 homes in the residential district. The management association has outsourced the power storage cell control management to ENERES, a company with expertise in this area. Based on a specified supply scheme to control the supply of power from storage cells to association members (residents), it will be possible to operate an EMS (*8) system and provide power coverage to the entire district by employing IBJ Leasing's environmental solutions, which were derived from its financial knowhow, to introduce private power distribution lines.

 

- Business location: Smart City Shioashiya Zone D4
- Site: Suzukaze-cho, Ashiya, Hyogo, Japan
- Coverage: Smart City Shioashiya Zone D4
- Main renewable energy: Roughly 32,007.92 m2
- Shared energy: Electric power
- Start of operations: October 2018

 

[Features of the microgrid system]

 

1. Low power rates and free power control owing to the use of private power distribution lines
The use of private power distribution lines makes it possible to freely control the receipt of electric power and storage cells in the housing district and to flexibly set power rates. Furthermore, it will be possible to reduce power rates by 20% by improving the rate of self-sufficiency on renewable energy by sharing power between homes.

 

2. Equalize supply-demand balance for electric power in the district via regional control of storage cells
Peak demand for power will be controlled within the area through the regional control of storage cells connected by the private power distribution lines. By entering into contracts for receiving power with new power companies (hereinafter referred to as a PPS (*9)), when it is expected that the area will exceed its contracted power supply, the system orders a discharge of electric power to equalize the supply of electric power.

 

3. Continued power supply even if supply from main grid is suspended (designated circuit)
During normal energy usage, the entire district will maximize use of solar power. When there is shortage of electric power, renewable energy will be supplied over the PPS grid (FIT power source (*10)) to maintain a stable power supply. During an emergency where the main power grid is interrupted, it is possible to continue to supply power to homes in the district by supplying power to designated circuits (refrigerators, lighting, cell phone rechargers, etc.) from power storage in storage cells or solar power generated within the district.

 

[Overview of shared power among homes in the district]

 

In this project, all homes are equipped with solar power generators, storage cells, and HEMS. The storage cells installed in each home are connected to form a network. The power stored in the storage cells (11.2kWh) can be shared by the 117 homes in the district. It is as if there is a giant storage cell with 1.3MWh of power. Homes with surplus electricity can share with homes that have a shortage of power. This reduces the need to purchase energy from external sources and maximizes the use of solar power generated within the district.

 

[Expected benefits]

 

1. Self-sufficiency rate of 80% or higher owing to the local production and local consumption of solar power (environmental benefit)

 

2. A 20% reduction in electric power rates owing to receipt of power and storage cell control (economic benefit)

 

3. 100% use of renewable energy (solar power generated in the district and FIT source outside the housing district) (environmental benefit)

 

4. Possible to supply power even when power supply from the main grid has been interrupted (designated circuits) (dealing with disasters)

 

5. Equalize power supply within the district (social benefit)

 

[Hybrid deployment of microgrid VPP (*11) feasibility test]

 

In addition to the deployment of a microgrid, a feasibility test will be conducted for the VPP control unit. When instructions, including demand response (*12) orders from the resource aggregator (*13), come from above, the goal is to control the inflow and outflow of power from storage cells in each home to address the increase or decrease of power consumption in the district, as if it were all functions as one power generator.

 

Notes:
*1. A small-scale power grid. A small power generator facility, including solar power generator, is set up in an area to supplement power demand using a local production, local consumption model.
*2. It is Japan's first point that makes to share electric power mutually at 117 homes by running private distribution lines in the housing district.
*3. (Amount of solar power consumed privately + amount of surplus power shared) ÷ Total power consumption (Annual basis; based on a simulation performed by PanaHome)
*4. Power distribution lines privately installed to supply power without relying on general power distribution companies.
*5. Energy Smart Communities Initiative (ESCI): Network launched in 2010 at the Yokohama APEC meeting. APEC member countries and regions collaborate on projects in five fields - smart buildings, smart grid, low-carbon model town, smart job and consumer, and smart transport - through the introduction of new technologies.
*6. Article 17 of the Electric Business Act (Specified Supply): System whereby an electric power supplier that meets certain criteria obtains a license for each location to which they plan to supply power and supplies power to that specific target.
*7. Home Energy Management System (HEMS): Energy usage is not only made transparent but also optimally controls electric use of consumer electronics and electrical facilities installed in the home.
*8. Energy Management System (EMS): Monitors and controls energy via a network, including making energy usage, including electric power usage, transparent, and optimally manages facilities.
*9. Power Producer and Supplier (PPS): Designated scale power products, generally known as new power suppliers. A company that obtains a license and newly enters the electric power industry.
*10. Electric power using a Feed-in Tariff (FIT) source (system whereby the purchase price of renewable energy is decided by law)
*11. Virtual Power Plant Response (VPP): Network or system that centrally controls a number of small solar power or other generators as if it were one large power generator.
*12. A resource aggregator collects energy resources from consumers for energy producers (power transmission and distribution companies, retail electric power companies, and renewable energy power producers).
*13. Demand Response: Transform power consumption patterns by curbing consumer power usage through incentives or by setting higher rates during times when market prices are skyrocketing or when the reliability of the grid is weak, such as when supply and demand for electric power are strapped.

 

Source: http://news.panasonic.com/global/topics/2017/50883.html

 

Related Links

 

[Video] Launch of Japan's First Microgrid System with a Total of 117 Homes - Smart City Shioashiya
https://www.youtube.com/watch?v=8Br0QgUxvK4

 

Smart City Shioashiya "Solar-Shima" website (Japanese)
http://city.panahome.jp/sorashima/index.php?frm=shioashiya

 

PanaHome Global
http://www.panahome.jp/english/

 

HEMS (Home Energy Management System) | Industrial Devices & Solutions
https://industrial.panasonic.com/ww/applications/ha/hems

 

ENERES Co., Ltd. (Japanese)
https://www.eneres.co.jp/

 

IBJ Leasing Co., Ltd.
https://www.ibjl.co.jp/en/index.html

 

Hyogo Prefecture
https://web.pref.hyogo.lg.jp/fl/index.html

 

 

 

 
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NTPC pays Total Dividend of Rs. 3,941 crore for FY 2016-17

29th Sep, 2017

NTPC Limited paid a total dividend @ 47.8% of its paid-up capital for the financial year 2016-17, amounting to Rs. 3,941 crore.

The Company had paid interim dividend @26.1% amounting to Rs. 2,152 crore on February 22, 2017. The Company has paid the final dividend @21.7% amounting to Rs. 1,789 crore on September 29, 2017.

The RTGS advice for the transfer of Rs. 1,129 crore to Government of India, being the share of Government of India in the final dividend, was presented by Shri Gurdeep Singh, CMD, NTPC, to Shri R.K.Singh, Hon’ble Minister of State (Independent Charge) for Power and New & Renewable Energy in the presence of Shri K. Biswal, Director (Finance), Shri K.K.Sharma, Director (Operations), Shri Saptarshi Roy, Director (Human Resources) and Shri A. K. Gupta, Director (Commercial) from NTPC Ltd.

NTPC Ltd. has paid a total dividend of Rs. 2,630 crore to the Government of India for the financial year 2016-17.

This is the 24th consecutive year that NTPC Ltd. has paid dividend.


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  • AzureAzure Power Solar Plant
Azure Power (NYSE: AZRE), a leading independent solar power producer in India, announced that it has won a 260 MW solar project in an auction conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL). The 260 MW allocation is the largest allocation by GUVNL to a solar power developer, 52% of the total allocated capacity of 500 MW announced. Azure Power will provide power for 25 years to GUVNL which has been rated AA- by ICRA, a Moody’s company, at a tariff of INR 2.67 (~US$ 0.04) per kWh. The project will be developed by Azure Power outside a solar park and is likely to be commissioned in 2019.

Azure Power has a long history of developing and operating solar power plants under the Gujarat Solar Policy 2009. Some of the first solar projects in India were built in Gujarat given several advantages the state has including high levels of solar radiation, an extensive and stable electric grid network, and the strong credit quality of its DISCOM, GUVNL. Azure Power developed and is operating India’s first MW-scale distributed solar rooftop project in Gujarat’s state capital city, Gandhinagar. In 2013, World Bank recognized this project as one of the Top 10 public-private partnerships in the Asia Pacific region.

Speaking on this occasion, Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “Our long history of superior solar power operations in Gujarat right from the inception of Gujarat’s Solar Policy 2009 has contributed to our success of procuring the largest solar power contract auctioned by Gujarat. We are delighted to make a contribution towards the realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation.”

About Azure Power

Azure Power (NYSE: AZRE) is a leading solar power producer in India with a portfolio of over 1,300 MWs across 22 states/union territories. With over 150 MWs of high quality rooftop solar assets, the company has one of the largest rooftop portfolios in the country. 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 to rooftop, since its inception in 2008. Highlights include the construction of India’s 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 Company’s 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 Company’s 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.

Read more: Azure Power Wins 260 MW Solar Power Project in...

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  • AzureAzure Roof Power Project
Azure Power (NYSE: AZRE), a leading independent solar power producer in India, announced that it has won a 1.3 MW solar rooftop project in an auction conducted by NTPC Vidyut Vyapar Nigam (NVVN), a wholly owned subsidiary of the National Thermal Power Corporation (NTPC). Azure Power will provide power for 25 years to Ministry of Health and Family Welfare, Government of India facilities in the states and union territories of Delhi, Puducherry, Uttar Pradesh, West Bengal and Assam. The power will be sold at a tariff range of INR 3.19 – 4.11 (~US$ 0.05- 0.06) per kWh based on location. In addition, Azure Power qualifies for a capital incentive which is expected to result in a weighted average levelized tariff of INR 5.29 (~US$0.08) per kWh.

Azure Roof Power offers superior rooftop solar power solutions for commercial, industrial, government, and institutional customers in cities across India to lower their energy bill and meet their greenhouse gas (GHG) emission reduction targets. With over 150 MWs of high quality, operating and committed solar assets across 20 states, Azure Roof Power has one of the largest rooftop portfolios in the country. Azure Roof Power has a well-diversified customer base with majority portfolio contracted with Government of India backed entities. Azure Roof Power customers include large commercial real estate companies, a leading global chain of premium hotels, distribution companies in smart cities, warehouses, Delhi Metro Rail Corporation, Indian Railways, a Delhi water utility company and various Government of India Ministries.

Commenting on the occasion, Mr Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “Azure Roof Power offers tremendous value to our customers across various segments. We are pleased to announce our latest win with NVVN to electrify Ministry of Health and Family Welfare facilities across five states. With this win, we have once again demonstrated our strong project development capabilities and are delighted to make this contribution towards the realization of our Hon’ble Prime Minister’s 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 1,300 MWs across 23 states/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 to rooftop, since its inception in 2008. Highlights include the construction of India’s 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 Company’s 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 Company’s 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.

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Leading global solar inverter manufacturer Sineng Electric presented its product line-up at the 2017 Renewable Energy India Expo (REI 2017) on September 20-22. During the event, the company showcased its industry-leading 1500V solar inverter series, central distributed inverter, central inverter, string inverter, energy storage system and power quality management solution, demonstrating its R&D and manufacturing capabilities.Leading global solar inverter manufacturer Sineng Electric presented its product line-up at the 2017 Renewable Energy India Expo (REI 2017) on September 20-22. During the event, the company showcased its industry-leading 1500V solar inverter series, central distributed inverter, central inverter, string inverter, energy storage system and power quality management solution, demonstrating its R&D and manufacturing capabilities.

The company launched the EP-2500-HA-OD central inverter. With 1500V DC voltage, maximum efficiency of up to 99.02% and 2.5MW unit integrated design, the EP-2500-HA-OD helps reduce the initial investment cost and increases the income from power generation significantly. The central distributed inverter displayed at the show has several advantages highly recognized by the Indian market, including Multiple MPPT, high power output and low initial investment and maintenance costs.  To respond to the fast-growing household and commercial solar markets in India, Sineng Electric displayed its full range of high-efficiency string inverters, which were highly acclaimed for their intelligent features, safety, convenience and elegant design.

Sineng Electric also displayed its leading low-cost and high-efficiency energy storage system, which is considered the preferred energy storage solution for solar PV stations in operation or under construction.

"As India is one of the most important PV markets worldwide, our product displays at the expo helped local customers gain a deeper understanding of our advanced products and technologies, as well as provided Chinese PV firms an opportunity to get a head start on their international expansion. We plan to continue increasing our investments in India and neighboring markets with the aim of supplying customers worldwide with solutions for higher power output and lower costs", said Sineng Electric vice president Li Jianfei. 
According to the IHS Markit 2017 Report, Sineng Electric is the world's sixth largest solar inverter manufacturer. In 2014, following integration with a Fortune 500 company's PV business, the company became a leader in terms of R&D, management and marketing in the global PV market. Currently, Sineng Electric has completed the establishment of its local sales and service system for the Indian market. Once the new modern facility goes into production in Bangalore, the company's annual solar inverter production capacity is expected to reach 5GW. Sineng Electric is capable of meeting the diversified needs of its customers with the industry's most complete solar inverter solutions.

  • Meenakshi Lekhi, Member of Parliament (Lok Sabha, New Delhi) graced the occasion
  • Angelique Pustakalaya aims to improve reading habits and comprehension skills among students
Angelique Foundation launched libraries named Angelique Pustakalaya in MCD run schools. Ms. Meenakshi Lekhi, Member of Parliament (Lok Sabha, New Delhi) along with Mrs. Jaishree Goyal, Head CSR, Angelique International Limited, inaugurated this unique CSR initiative.
 
Angelique Pustakalaya is a CSR initiative of Angelique Foundation that aims to set up happy functional libraries in Schools by providing a warm and inviting environment with books that are relevant to the age group and the literacy levels of the students. Reading develops broader understanding of the world around them, stimulates creativity, enhances comprehension, improves communication skills and eventually help them in securing better jobs. Angelique Pustakalaya had started simultaneously in nine states, now 263 in number where 28,833 students have benefitted.
 
While launching the Libraries, Smt. Meenakshi Lekhi, Member of Parliament (Lok Sabha, New Delhi) said “All successful people have reading books as one of their habits. This is one of the main reasons why I requested Jaishree Goyal of Angelique International to help me in introducing these libraries in the MCD Schools so that we can inculcate this in the children from a very nascent age. I believe that these children will eventually help the country and be successful themselves."
 
In her address, Jaishree Goyal, CSR Head, Angelique Foundation said, “We believe that children love to read. Given a book that matches a child's literacy level, with attractive colourful illustrations and in a comfortable environment, every child would make an attempt to read it. Our libraries have carefully selected books in a happy environment. We thank Ms. Meenakshi Lekhi, Member of Parliament (Lok Sabha, New Delhi) for believing in the Angelique Pustakalaya CSR initiative and bringing it into the government schools."

“Our CSR initiative has grown at a pace faster than we imagined. The motivation to grow has come from the positive response received from the beneficiaries and the government institutions that support these initiatives. From making libraries in low-income schools, Angelique foundation is refurbishing the children’s corner in the Delhi State Public Libraries; developing completely new Libraries-cum-Reading/Study Area in Community Centers and have added to our list a full Sanskrit Library.”

About Angelique Foundation

Angelique Foundation is the CSR arm of Angelique International Limited and therefore, a natural extension of Angelique International’s social infrastructure projects. Angelique Foundation implements programs tailored to the ground realities in India with a focus on education and rural empowerment. Each initiative is designed to meet the needs of the specific target group and is undertaken after detailed research and surveys. Some of their prominent initiatives include Angelique Pustakalaya – building a shelter of knowledge for children in low income schools; Angelique Garima – empower village girls and women to lead a confident and independent life by teaching skills of stitching, mushroom cultivation and beauty centres; Swachh Bharat – sponsoring construction of toilets in government schools and rural villages; Angelique Shakti - installing solar power units in schools to provide continuous electricity. Angelique International Limited is an Indian EPC company delivering complete project solutions in vital areas of power, water, agriculture, irrigation, social infrastructure and industrial projects in India & across the globe.

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  • AzureAzure Roof Power Project
Azure Power (NYSE: AZRE), a leading solar independent power producer in India, announced that it has won an additional 20 MWs of solar rooftop projects for Indian Railways, the largest rail network in Asia, owned and operated by the Government of India through the Ministry of Railways. With the new allocation of 20 MWs, Azure Power has become the largest supplier of solar power to Indian Railways with a cumulative awarded capacity of over 66 MWs which includes the 46 MWs of capacity won earlier this year. Azure Roof Power will be used to provide power for 25 years to various Indian Railway facilities across 17 states and union territories. The power will be sold at a tariff range of INR 3.64 - 4.49 (US$ 0.06- 0.07) based on location. In addition, Azure Power qualifies for a capital incentive from Indian Railways which is expected to result in a weighted average levelized tariff of INR 4.88 (~US $0.08) per kWh.
 
Azure Roof Power offers superior rooftop solar power solution for commercial, industrial, government, and institutional customers in cities across India to lower their energy bills and to meet their greenhouse gas (GHG) emission reduction targets. With over 150MWs of high quality, operating and committed solar assets across 20 states, Azure Roof Power has one of the largest rooftop portfolios in the country. Azure Power has a well-diversified customer base with the majority of the portfolio contracted with Government of India backed entities. Azure Roof Power customers include large commercial real estate companies, a leading global chain of premium hotels, distribution companies in smart cities, warehouses, Delhi Metro Rail Corporation, Indian Railways, a Delhi water utility company and various Government of India Ministries.
 
Commenting on the occasion, Mr Inderpreet Wadhwa, Founder, Chairman and Chief Executive Officer, Azure Power said, “Azure Roof Power offers tremendous value to our customers across various segments. We are pleased to expand our Azure Roof Power platform with Indian Railways. With this win, we have once again demonstrated our strong project development capabilities and are delighted to make this contribution towards realization of our Hon’ble Prime Minister’s commitment towards clean and green energy, through solar power generation.”

About Azure Power
 
Azure Power (NYSE: AZRE) is a leading solar power producer in India with a portfolio of over 1,300 MWs across 23 states/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 to rooftop, since its inception in 2008. Highlights include the construction of India’s 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 Company’s 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 Company’s 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.

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