Azure Power ties up with Premier Energies for supply of modules

Azure Power Global Limited has executed a module supply agreement with Premier Energies Group for supply of modules up to 600 MW per annum for the next four years.

The company has also entered into an agreement to invest Rs 1,000 million in the Premier Group, of which an investment worth Rs 455 million has been made for the subscription of equity shares and compulsorily convertible debentures issued by Premier Energies Investment Private Limited (PEIPL), towards subscription of 26 per cent shareholding in PEIPL. The balance of Rs 545 million will be made in the form of subscription to optionally convertible debentures issued by Premier Energy Limited.

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