Azure Power Global Limited AZREF

Company Overview

Azure Power Global Limited is an India-focused independent power producer primarily engaged in the development, construction, ownership, and operation of utility-scale and commercial solar energy projects. The company operates within the renewable energy and electric power industries, with revenue largely generated through long-term power purchase agreements (PPAs) signed with Indian government agencies, state utilities, and commercial customers. Azure Power’s core activities include solar project development, engineering, procurement and construction coordination, and long-term electricity generation from photovoltaic assets.

The company was founded in 2008 by Inderpreet Wadhwa and became one of the early large-scale solar platform operators in India following the launch of India’s National Solar Mission. Over time, Azure Power expanded from rooftop and distributed solar projects into utility-scale solar parks across multiple Indian states. The company historically positioned itself as a long-duration infrastructure operator benefiting from contracted cash flows, renewable energy demand growth, and India’s decarbonization initiatives.