NTPC Inks Pact to Buy Solar Power from Spain-Based Zelestra

NTPC Limited has signed a 25-year Power Purchase Agreement (PPA) with a Spain-based Renewable Energy producer, Zelestra.

As per the agreement, Zelestra will set up a 450 MW solar power project in Rajasthan and the generated power will be supplied to NTPC at a rate of Rs. 2.60 per unit. This solar power plant is expected to produce 801 GWh of electricity every year. This PPA between NTPC and Zelestra specifies that the entire output produced at Zelestra’s solar project will be supplied to NTPC. This upcoming solar power project is expected to reduce carbon dioxide emissions by over 13,500 metric tons over its 25-year lifespan.

Commenting on this development, Mr. Sajay K. V., Zelestra’s India CEO, said, “Our recent success of securing 1.5GW of PPAs this year alone underscores Zelestra’s aggressive expansion plans in India. With our global capabilities, our strong local insights, and financial stability, we are well-positioned to exceed our stakeholders’ expectations”.

Zelestra is a Spain headquartered company specializing in developing, constructing, commercializing, and operating large-scale renewable energy projects.