Essar Partners with NHPC to Launch 300 MW Renewable Energy Project in Andhra Pradesh

Mumbai, November 4 (Daily Kiran) : Essar Renewables Limited (ERL), the renewable energy arm of Essar Power, has entered into a power purchase agreement (PPA) with NHPC Limited for a 300 megawatt firm and dispatchable renewable energy (FDRRE) project in Andhra Pradesh. The company plans to invest approximately ₹4,500 crore in this initiative.

The project will integrate solar energy, wind energy, and a battery energy storage system (BESS) to produce reliable green electricity that can be provided on demand. This initiative aligns with Essar Power’s strategy to develop a diversified energy portfolio of nearly 5 gigawatts, which will include renewable, thermal, and gas-based power generation assets.

During the announcement, Essar Group’s Operating Partner for Infrastructure, Srinivasan Vaidyanathan, emphasized the importance of establishing a reliable and sustainable energy framework for the nation as part of India’s ‘Developed India’ vision. He noted that Essar’s extensive experience in the energy sector and focus on new technologies position the group to play a vital role in India’s next phase of energy development.

Ankur Kumar, CEO of Essar Power, highlighted the company’s commitment to building a robust portfolio in solar, wind, and battery energy storage systems. He described the 300 MW project with NHPC as a significant milestone in the company’s renewable energy strategy, enhancing its renewable energy business.

NHPC Limited, a Navratna enterprise under the Ministry of Power, is recognized as India’s largest hydropower development company. In recent years, NHPC has expanded its operations into solar and wind energy, continually strengthening its presence in the renewable energy sector.

Essar Power stated that its energy strategy is designed to adapt to India’s evolving energy landscape, focusing on investments in clean and renewable energy while ensuring reliable electricity supply through traditional energy sources. The company acknowledged the rapidly growing electricity demand in urban and industrial centers, stressing the need for energy security, grid reliability, and support for the country’s transition to a low-carbon future through an integrated energy portfolio.

This project will also support India’s national goal of achieving 500 gigawatts of renewable energy capacity by 2030, potentially accelerating private investment in the green energy sector.