Azure Power announces 10 MW Memorandum of Understanding with SMA Solar Technology AG

April 29, 2010 - PRLog -- Azure Power, the developer and owner of India’s first privately operated, utility scale, solar power plant today announced its photovoltaic (PV) inverter supply agreement with SMA Solar Technology, global technology and market leader in the solar inverter segment. The agreement calls for SMA to supply Azure Power with enough high-efficiency inverters to support the generation of over 10 megawatts (MW) of solar electric power. The inverters supplied by SMA would be used in expanding the capacity of India’s first MW scale privately operated solar power plant, as well as in setting up new solar power plants in India.

Speaking about the agreement Mr. Inderpreet Wadhwa, CEO, Azure Power said, “We are excited to work with SMA inverters for our Indian projects. With this Azure would become the first utility scale solar power producers in India to have the capacity to produce Solar Power in such a large scale. We expect this partnership to be beneficial for all stakeholders, the local communities and utilities. With SMA, we already have proven the local grid connectivity with smart inverters in our first project in India. We are excited to continue our long term partnership with the market leading inverter technology company for our upcoming projects in India.”

Solar inverters are the key components in a solar power system converting direct current power generated by solar panels into alternating current suitable for the grid. They also help stabilize the grid, support grid voltage, and control electrical grid parameters.

Speaking on this occasion, Jeanette Klockgether, Vice President Sales Overseas at SMA, said, “Azure Power is a very important player in the rising Indian solar market. We expect this partnership to propel the growth of the nascent solar energy sector in India.”


About SMA Solar Technology AG

The SMA Group generated sales of c. 934 million Euro in 2009 and is the worldwide market leader for photovoltaic inverters, a key component of all solar power plants. It is headquartered in Niestetal, near Kassel, Germany, and is represented in four continents by 13 foreign subsidiaries. The Group employs a staff of over 4,000 (incl. temporary employees). SMA’s product portfolio includes the most comprehensive range of inverters in the market, offering a compatible inverter for every type of photovoltaic module and for all plant sizes. The product range covers both inverters for photovoltaic plants connected to the grid as well as inverters for off-grid systems. Since 2008, the Group’s parent company SMA Solar Technology AG has been listed on the Prime Standard of the Frankfurt Stock Exchange (S92) and also in the TecDAX index. In recent years, SMA has received numerous awards for its excellence as an employer.

About Azure Power

Azure Power is an independent solar power producer and the first private sector company to implement a megawatt scale grid connected solar photo-voltaic power plant in India. Azure Power's team has decades of experience building industry-leading companies, executing complex infrastructure projects, and financing high-growth enterprises. Azure Power creates innovative solutions to deliver solar energy to its utility, government, and commercial customers. By providing solar energy as a service, Azure Power manages entire project process for their customers, by reducing the upfront and ongoing operational costs and management.

For further information and inquiries contact:

Priya Mathew / Sukhi Raghunath
+919959987637 / +919986754074
priya@aimhighindia.com / sukhi@aimhighindia.com