Original disclosure @ ADB website
Updated in EWS Aug 18, 2022
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Financing provided to Azure Power India Private Limited (APIPL) will be used as liquidity support for APIPL to mitigate the impact of COVID-19 on the economic activity in India.
Azure Power Global Limited (APGL) is the holding company and directly owns 97.75% of APIPL. APGL also owns 100% of Azure Power Rooftop Private Limited, which was incorporated in FY2018 and owns 100 MW of operational rooftop solar projects. All the assets owned by APGL are held through APIPL or Azure Power Rooftop Private Limited. APGL has been listed on the New York Stock Exchange (NYSE) since 2016 and had a market capitalization of $1.13 billion as of 4 September 2020. APGL is owned by institutional shareholders such as CDPQ Infrastructures Asia Pte Limited and, the International Finance Corporation (IFC) 8 CDPQ Infrastructures Asia Pte Limited is a company incorporated in Singapore and is a wholly owned subsidiary of Caisse de dépôt et placement du Québec (CDPQ).9 CDPQ manages about $250 billion of funds primarily for public and parapublic pension and insurance plans for all the citizens residing in Québec, Canada. Other shareholders of APGL include Helion Venture Partners Morgan Stanley Investment Management Inc. and Morgan Stanley Investment Management Limited (United Kingdom), Jefferies LLC, Proparco and Franklin Bissett Investment Management.10 (Confidential information redacted.)
APIPL is an independent solar power producer in India.
APIPL, incorporated in February 2008, develops grid-connected as well as rooftop solar photovoltaic power projects in India. APIPL was one of the early entrants in the solar power development sector in India and now has 1,718 megawatts (MW) of operational solar power capacity spread across 11 states. 7 APIPL’s operational capacity has increased at a compound annual growth rate of 84.8% from 2 MW in FY2009 to 1,718 MW in FY2020.
No contact information provided at the time of disclosure.
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