NHPC and Essar Renewables to develop 300 MW project in Andhra Pradesh
The renewable energy project will integrate solar, wind, and battery storage systems with an investment of Rs 4,500 crore.
Essar Renewables Ltd (ERL) and NHPC Ltd will develop a 300-megawatt green energy project in southern Andhra Pradesh, according to reports by Business Standard and Urban Acres.
The parent company, Essar Power, will invest approximately Rs 4,500 crore ($475 million) into the venture. The project will combine solar and wind power with Battery Energy Storage Systems (BESS) to provide a predictable and steady supply of renewable electricity.
The agreement follows ERL signing a power purchase agreement with the state-owned NHPC. This initiative is part of Essar Power's strategy to create a 5 GW diversified portfolio that includes thermal, gas-based, and renewable power generation.
Essar Power CEO Ankur Kumar said the agreement is a milestone for building a scalable renewable energy business. Srinivasan Vaidyanathan, Operating Partner – Infrastructure at Essar Group, stated that a sustainable energy system is vital for India's development ambitions.
NHPC, a Navratna public sector enterprise under the Ministry of Power, is the country's largest hydropower producer and has been increasing its solar and wind presence. The project aligns with India's goal to reach 500 GW of non-fossil fuel-based electricity capacity by 2030.
The company has not yet provided a specific location within Andhra Pradesh, a construction schedule, or a timeline for commissioning the project.