Essar Renewables to invest ₹4,500 crore in Andhra Pradesh project
The 300 MW renewable energy project with NHPC will integrate solar, wind and battery storage systems.
Essar Renewables, the renewable energy division of Essar Power, has signed a Power Purchase Agreement with NHPC for a 300 MW project in Andhra Pradesh, according to BusinessLine and Business Today.
The parent company, Essar Power, will invest approximately ₹4,500 crore in the Firm and Dispatchable Renewable Energy (FDRE) initiative. This project will combine solar and wind power with Battery Energy Storage Systems (BESS) to provide reliable electricity.
This development is a component of Essar Power's broader objective to establish a 5 GW energy portfolio that includes gas-based, thermal, and renewable power generation.
Srinivasan Vaidyanathan, Operating Partner - Infrastructure at Essar Group, stated that the company's focus on emerging technologies provides a foundation to join India's next stage of energy growth.
Ankur Kumar, CEO of Essar Power, said the 300 MW FDRE project with NHPC is a milestone that will help the company build a scalable renewable business.
The initiative aligns with India's national goal to reach 500 GW of renewable energy capacity by 2030 as electricity demand grows in urban and industrial centres.