Off-Grid, Solar

Azure Power Closes Series A Funding

Azure Power announced the closing of a Series A funding from Helion Venture Partners and Foundation Capital. Azure Power has several on- and off-grid solar energy projects under development across several states in India.

The investment will be directed towards scaling-up Azure Power’s operations in India. Helion said that Azure’s turnkey solar energy service offerings remove the heavy capital requirements as well as operational complexities for its customers. This is Helion’s first investment in the renewable energy technology space. The amount of the funding was not disclosed.

“Solar power is the most promising source of renewable energy and our implementations complement existing sources of electricity. We offer a portfolio of solar energy solutions for commercial, government and utility customers. This area is a huge focus for the government of India in the 11th five year plan. We are excited about the opportunities that this current flow of funds will provide us with to further expand our operations within India,” said Inderpreet Wadhwa, CEO of Azure Power India.