Essar Renewables and NHPC sign agreement for 300 MW project

Essar Power's renewable energy arm, Essar Renewables Limited (ERL), has signed a Power Purchase Agreement (PPA) with NHPC Limited for a 300 MW Firm and Dispatchable Renewable Energy (FDRE) project in Andhra Pradesh. According to a report by The Hindu, an investment of approximately ₹4,500 crore will be made under this project.

This ambitious project will integrate solar energy, wind energy, and Battery Energy Storage Systems (BESS) to provide dispatchable renewable power. Essar Power aims to create a diversified energy portfolio of approximately 5 GW, comprising renewable, thermal, and gas-based energy production.

Srinivasan Vaidyanathan, Infrastructure Operating Partner of Essar Group, stated that Essar's experience in the energy sector and their focus on new technology and emerging opportunities provide a strong foundation to participate in India's next phase of energy growth. Essar Power CEO Ankur Kumar termed this project a significant milestone in their journey. He added that they are focusing on building a robust portfolio in solar, wind, and Battery Energy Storage Systems to leverage the growing opportunities in India's renewable energy sector.

The project aims to provide stable and demand-responsive dispatchable renewable energy in Andhra Pradesh. Essar Power is working on various sources to expand its energy portfolio, including renewable energy alongside traditional thermal and gas-based energy.

It plays a significant role in the country's energy sector.