Mumbai, Nov 4 (SocialNews.XYZ) Essar Renewables Limited (ERL), Essar Power's renewable energy arm, has signed a Power Purchase Agreement (PPA) with NHPC Limited for a 300 MW Firm and Dispatchable Renewable Energy (FDRE) project in Andhra Pradesh.
Essar Power will invest about Rs 4,500 crore in the project, integrating solar, wind, and Battery Energy Storage Systems (BESS) to deliver reliable, dispatchable renewable power.
The project is part of Essar Power's strategy to build a diversified energy portfolio of approximately 5 GW, spanning renewable, thermal and gas-based power generation.
Commenting on the development, Srinivasan Vaidyanathan, Operating Partner - Infrastructure, Essar Group said: "As India advances towards the vision of Viksit Bharat, building a reliable and sustainable energy ecosystem will be critical to supporting its ambitions. Essar's experience in the energy sector, combined with our focus on new technologies and emerging opportunities, gives us a strong foundation to participate in this next phase of India's energy growth."
Ankur Kumar, CEO, Essar Power added: "At Essar Renewables, we are focused on building a strong portfolio across solar, wind and Battery Energy Storage Systems, tapping into the growing opportunities in India's renewable energy sector. The 300 MW FDRE project with NHPC is an important milestone in this journey, strengthening our portfolio and advancing our ambition to build a scalable renewable energy business."
NHPC Limited, a Navratna enterprise of the Government of India under the Ministry of Power, is India's largest hydropower development organisation. Over the years, NHPC has diversified its operations into solar and wind energy and is strengthening its presence across the renewable energy sector.
Essar Power's energy strategy reflects a balanced approach to India's evolving energy landscape, combining investments in renewable energy and emerging clean energy solutions with reliable conventional power generation.
As electricity demand continues to grow across India's industrial and urban centres, Essar Power is focused on building an integrated energy portfolio that supports energy security, grid reliability and the country's transition towards a lower-carbon future.
These initiatives align with India's national energy priorities and contribute to its target of achieving 500 GW of renewable energy capacity by 2030.
Source: IANS
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