Spanish developer Zelestra (earlier known as Solarpack) has signed a 25-year power purchase agreement (PPA) with India’s NTPC for a 450 MWp solar project in the Indian state of Rajasthan. It was awarded this project in January this year.
The long-term deal with NTPC covers the entire output of the proposed plant, which is estimated to generate around 801 GWh annually and help offset 13,555.774 metric tons of CO2 emissions over 25 years.
The solar project in Rajasthan will support Zelestra India’s goal of executing a diverse project portfolio exceeding 6 GW in the next three years.
Leo Moreno, Zelestra’s global CEO, said, “At Zelestra, we are dedicated to serving our clients with the best techno-commercially customised solutions through innovation and collaboration, leveraging our long history of developing and building renewable projects around the world.”
With a carbon-free project portfolio of 20 GW across 13 countries, Zelestra is a vertically integrated company specializing in development, construction, commercialization, and operation of large-scale renewable energy projects. It is backed by EQT, one of the largest fund managers in the world, with $232 billion in assets.
Sajay KV, Zelestra’s India CEO commented, “Our recent success of securing 1.5 GW 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.”
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