Azure Power

Corporate Presentation

India’s first private grid connected MW Solar plant

Largest owner and operator of National Solar Mission projects

Pan India portfolio of solar assets in 15 States

India’s first distributed MW scale rooftop solar project

100 MW, Jodhpur, Rajasthan

Largest Solar Power Plant under National Solar Mission policy

• Founded on 29th February 2008

• Developed India’s first utility scale

solar project in 2009

• 900+ MW pan-India projects

• Diversified presence in 15 states

• Current portfolio of over 300

rooftops operational

• Use non penetrating structure

• Azure power is a developer,

constructor and operator of

utility scale, micro-grid and

rooftop solar projects

• Sells power in India under long-

term contracts, which in many

cases are at or below prevailing

alternative power prices

Company Overview

Overview

Leader in the market

India’s first private grid connected MW Solar Plant:

Inauguration in Awan, Punjab by Shri Farooq

Abdullah in 2009

Inauguration of 10 MW Solar Power Plant in

Gujrat by Shri Narendra Modi; India’s then

largest Solar Power Plant

India’s First distributed MW scale rooftop solar

project in Gandhinagar, Gujrat; Awarded Top

10 PPP by World Bank in 2013

100 MW Solar Power Plant in Jodhpur,

Rajasthan; Largest operator of solar project under

NSM with cumulative 142 MW; largest ‘Make in

India’ project

1000 MW MOU signed with Honourable Chief

Minister, Rajasthan, Smt. Vasundhara Raje

At the forefront of US India Clean Energy

dialogue, here with Honourable Prime Minister,

Shri Narendra Modi and Fred P Hochberg,

Chairman US EXIM Bank

Case Study: Gujarat Rooftop Project, Smart City Enabler

India's first grid connected MW scale Solar roof top project

Azure Power was awarded the top 10 Public Private Partnership, 2013 by the International Finance

Corporation (IFC)

Plant Capacity: 2.5 MW

Number of Roofs covered: 192

Private roofs: 161

Government roofs: 31

Business Model:

Azure signed a 25 year PPA with Torrent Power

Builds-Owns-Operates solar plants across Gandhinagar

Torrent Power provides clean electricity produced to Consumers

Building owners get cash incentives from Azure Power for sharing roofs

Case Study: DLF Properties, Pan- India

Business Model:

Azure Power has entered into a long-term PPA with prominent DLF Commercial Buildings.

Plants are installed on the roofs of these establishments

Our plants reduce their diesel and gas consumption during peak hours, as all the generated

energy is consumed by the occupants during the daytime

Plant Capacity: 1.8 MW

Locations : Uttar Pradesh, Haryana, Tamil Nadu, Andhra Pradesh, West Bengal

Our Key Rooftop Customers

Why Solar- Challenges of Conventional Power

Majority of India faces electricity shortages and challenges listed below:

FINANCIAL:

• High cost of grid power

• Consistently-rising prices of grid power, expected to keep rising for the next several years

• No savings while using grid power

ENVIRONMENTAL and SOCIAL:

• Increased global warming due to excessive use of fossil fuels

• Fossil fuels are highly unsustainable and close to depletion over the next few years

• Power cuts and inconsistent grid supply

Azure Power Business Model- Our Solution…

Azure Power provides Solar Energy for Captive consumption at

economical rates for a long term.

Responsibility of the Company:

• Design, Engineer and Construct plant

• Invest 100% capital & operating expense

• Interconnect with energy distribution point

• Operate and maintain plant for project lifetime

• Provide Solar As A Service (SaaS).

Responsibility of the Customer:

• Agree & sign long term Power Purchase Agreement

• Pay only for number of units generated by the plant at fixed tariffs

• Grant site access to Company representatives during construction and project tenure

Benefits

FINANCIAL:

No Capital Investment Required

• We provide the capital. You get the green electricity

• We finance, build, own and operate the solar plant for its lifetime, so you don't have to worry

about costs and maintenance issues

Pay As You Consume

• Cheaper rate than your electricity tariffs for the next 25 years

• Pay only for the units that the solar plant generates in a month

Payback From Day One

• Reap financial benefit from day one of plant operation

• SAVE money. Solar electricity will always be cheaper than the utility tariff

ENVIRONMENTAL:

• Eliminate several thousand tons of CO2 from the environment and make an effective

contribution to mitigating climate change

• Energy production is unobtrusive and silent

SOCIAL:

• Reduce use of fossil fuel for energy, leading to national energy independence

• Provide power locally, reducing the need for extensive grid infrastructure

• Create jobs for local economy

Leadership Team

Sanjeev Agarwal, Directors

• Co-founder of Helion Venture Partners.

• Current on the boards of Eye-Q Vision Private Limited and Clues Networks Inc.

• Served on the boards of Amba Research, MakeMyTrip Limited and UnitedLex Corporation.

Sandeep Chopra, Head Strategy

• In this role, he managed large service delivery teams and helped set up centers of excellence.

• Before that, Sandeep held a variety of roles in the assurance practices at Arthur Andersen, Ernst & Young, and

PricewaterhouseCoopers

• Sandeep is an alumnus of Harvard Business School. He is a chartered accountant and member of the Institute of Chartered

Accountants of India

Bill Elmore, Director

• Founder of Foundation Capital in 1995

• Former director and past president of the Western Assocor Venture Capitalists

• Past director of the National Venture Capital Association

Robert Kelly, Director

• Served as CFO of Solar City Corporation in San Mateo, California and Calera Corporation, a clean technology company

• CFO and executive vice president of Calpine Corporation, an independent power producer

Diane Farrell, Director

• Serving as president for the U.S.-India Business Council

• Served on the board of directors at the Export Import Bank of the United States

• Was elected as the First Selectwoman in Westport, Connecticut

Harkanwal Singh Wadhwa, Director and COO

• 40 years of experience in the financial services industry in India

• Served as chief managing director of National Insurance Limited

Inderpreet Singh Wadhwa ,Founder and CEO

• 20 years of experience in infrastructure projects

• Previously served as a vice president of Loyalty Lab and a senior director of Oracle Corporation

Next Steps

Information to be provided to Azure Power for a formal proposal :

Point of Contact

List of all Buildings to be considered for Solar Power

Electricity Bills for each location for the last 6 months

Building Roof Layouts

Company Financials

2-page KYC form filled in for each location under consideration

India Office:

8, LSC Pushp Vihar,

New Delhi - 110 062

Phone: +91.11.49409800

Fax: +91.11.49409807

Thank You

US Office:

1054 31st Street, NW, Suite 545

Canal Square, Washington DC 20007

Phone: +1-650-2456464