India’s leading power producer, NTPC, has signed a power purchase agreement with the renewable energy company, Zelestra, for buying solar power for 25 years, for a price of ₹2.60 a kWhr.
Spain headquartered Zelestra will put up a 450 MW solar power plant in Rajasthan for this purpose. The Anboto solar plant will produce 801 GWhr of electricity annually, says a press release from the EQT backed Zelestra.
Zelestra India is building a renewable portfolio and aims to have 6 GW under its belt in three years, the release says.
Pointing out that Zelestra had signed PPAs for 1.5 GW of capacity “this year alone”, Zelestra India’s CEO, KV Sajay, said that the company has “aggressive expansion plans” in India.