New Delhi: Renewable energy platform O2 Power on Monday said it has signed a Power Purchase Agreement (PPA) with East Central Railways to supply 100 MW of electricity.
The renewable power under this agreement will be supplied from O2 Power's installed capacity of 360 MW, across Rajasthan, Gujarat, and Karnataka, according to a company statement.
According to the statement East Central Railways, a key division of the Indian Railways, will benefit from this partnership by advancing its decarbonization goals and contributing to the national mission of achieving net-zero carbon emissions by 2070, according to the statement.
The renewable energy supplied under this agreement will directly power ECR’s operations, reducing its carbon footprint and enhancing energy sustainability.
Parag Sharma, Founder and CEO, O2 Power, said, "This PPA with ECR is a significant step in enabling Indian Railways to go green. At O2 Power, we are proud to contribute to this transformative journey by ensuring a round-the-clock (RTC) supply of clean energy to the grid."
O2 Power's renewable energy projects with a total portfolio of 6GW+ span across multiple states.
O2 Power is a renewable energy platform in India established in 2020 by Singapore-based investment company Temasek and Stockholm-based investment firm EQT Infrastructure. The company focuses on developing, constructing, and operating renewable energy projects, including solar and wind power.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)