Power & Utilities
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Construction on the 2MW grid-connected solar power plant began in July 2009 and was completed within six months. It was inaugurated on 15 December 2009. The plant was built and is owned and operated, by Azure Power, an independent power producer. The project was supported by the Punjab Energy Development Agency (PEDA) and the Ministry of New and Renewable Energy (MNRE). This project is the first step taken by PEDA in its endeavor to promote utility-scale solar photovoltaic power projects in Punjab. Initially, 1MW has been commissioned at an estimated cost of Rs190m ($4m). The total cost of the project (2MW) is estimated to be Rs400m ($8.5m). The project has been financed by a loan from the US Overseas Private Investment Corporation (OPIC). Azure Power plans to build 100MW of solar power plants in different Indian states by 2015. The fully operational plant will supply power to 20,000 people in 32 villages and eliminate carbon emissions of up to 10,000t.