KEY POINTS
- NHPC and Essar’s renewable unit will build a 300-megawatt project in Andhra Pradesh.
- Essar Power is investing about 45 billion rupees, or $475 million.
- The project combines solar, wind and battery storage.
India’s NHPC and Essar Power’s renewable energy unit will develop a 300-megawatt renewable energy project in the southern state of Andhra Pradesh, with Essar Power investing about 45 billion rupees ($475 million), Reuters reported Wednesday.
The project will combine solar, wind and battery energy storage systems to supply clean power, the company said.
Renewable energy push for NHPC
NHPC, India’s largest hydropower producer, has been expanding into solar and wind. Meanwhile, the deal fits Essar Power’s plan to build a diversified 5-gigawatt portfolio spanning renewable, thermal and gas-based generation.
India’s 500-gigawatt target
The project also supports India’s push to add renewable capacity and strengthen grid reliability as electricity demand rises, Essar said. In addition, it aligns with the country’s goal of reaching 500 gigawatts of renewable energy capacity by 2030.
