BC Jindal Group has announced that its renewable energy arm, Jindal India Renewable Energy (JIRE), has won a 180 MW solar plus storage project from state-owned NHPC. The project is part of NHPC’s 1,200 MW inter-state transmission system-connected solar power projects tender with 600 MW/1200 MW energy storage systems.
JIRE has bagged 180 MW of solar power capacity from NHPC at a tariff of INR 3.09/kWh. As per the stated terms, the company will execute the solar project on a build-own-operate basis. In addition, the green-field project will have to be completed within 24 months from signing of the power purchase agreement (PPA).
NHPC will enter into a PPA with JIRE for a period of 25 years. It will purchase solar power from JIRE and sell it to state utilities and others. As part of the contract, JIRE will have to deploy an ESS of at least 0.5 MW/ 1 MWh capacity for 1 MW contracted solar capacity.
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