Home Industry Clean Energy Zelestra Secures Long-Term Sol...
Clean Energy
Business Honor
26 August, 2024
The agreement underscores Zelestra’s commitment to advancing its renewable energy initiatives in India
Spanish renewable energy firm Zelestra has announced a significant step forward in its expansion strategy by signing a 25-year power purchase agreement (PPA) with NTPC, India’s state-owned power behemoth. The deal, finalized on Wednesday, will see Zelestra supply electricity from its forthcoming 450 MW solar project in Rajasthan, which is projected to generate approximately 801 GWh annually.
The agreement underscores Zelestra’s commitment to advancing its renewable energy initiatives in India, aligning with its ambitious goal to execute a diverse portfolio exceeding 6 GW within the next three years. The Rajasthan project is expected to result in a reduction of 13,555.774 metric tonnes of CO2 emissions over its lifetime, reinforcing Zelestra's role in supporting global decarbonization efforts. Zelestra, which is backed by EQT, a leading global fund manager, has been expanding aggressively in the renewable energy sector. With a global portfolio of 20 GW across 13 countries, the company is known for its integrated approach to developing, constructing, and operating large-scale renewable projects. The firm’s strategic focus includes leveraging a range of technologies such as solar, wind, batteries, and green hydrogen to drive the energy transition.
The recent deal reflects Zelestra's strong local insights and financial stability, positioning it well to meet and exceed stakeholder expectations as it continues to push for growth in the Indian market and beyond.