New Delhi: Integrated energy solutions provider Apraava Energy on Thursday said it has secured a 300 MW solar project from state-owned power giant NTPC LImited.
The project will be set up in Rajasthan, within a scheduled completion period of 24 months. It was secured through an e-reverse auction mechanism at a tariff of Rs 2.65 per kWh, a company statement said.
Apraava Energy has signed a Power Purchase Agreement (PPA) with NTPC Ltd for a 300 megawatt (MW) solar energy project connected to the Interstate Transmission System (ISTS), according to the statement.
This project further strengthens Apraava’s presence in Rajasthan, following its maiden 250 MW greenfield solar project announced in January 2024, secured through NHPC.
Apart from these two solar assets, Rajasthan also hosts Apraava's three existing wind projects with a combined capacity of 253.6 MW, along with three under-construction transmission projects.
Rajiv Ranjan Mishra, Managing Director, Apraava Energy, said in the statement, "We are excited to add our largest solar project to date into our growing renewable energy (RE) portfolio."
The bid is part of the solar tender issued by NTPC for setting up 1,500 MW ISTS-connected Solar PV Power Projects anywhere in India.
The PPA between NTPC and Apraava Energy is for a period of 25 years from the scheduled commencement of the supply date.
As part of the agreement, Apraava Energy will be responsible for building, owning, and operating the project for the PPA tenure.
The company's current operational portfolio of RE (solar and wind) stands at 1,420 MW, with projects spread across Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Tamil Nadu, Telangana, and Karnataka. In addition, Apraava has 900 MW of RE projects under construction.
(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.)