The company was founded by Inderpreet Wadhwa in 2008. Azure Power’s 2 MW Punjab facility was the first utility-scale solar power plant in India in 2009. The project provides electricity to 32 villages 20,000 people in Awan, Punjab. Azure Power has raised capital from investors like Foundation Capital, Helion Ventures, IFC and German development bank DEG. The company's largest shareholder is Caisse de dépôt et placement du Québec , which owns over 50% of the shares outstanding. Azure Power has a total capacity of over 7 GW across.
