Spanish renewable energy firm Zelestra announced that it has signed an agreement to supply electricity from its 450 MW solar project in Rajasthan to state-owned power giant NTPC. The long-term deal with NTPC will cover the entire output of the future plant, which is estimated to be around 801 GWh annually, according to a company statement.
The statement revealed that NTPC and Zelestra recently entered into a 25-year power purchase agreement (PPA) for the 450 MWp solar project in Rajasthan, India. The supply of power from this project is expected to result in a significant reduction of 13,555.774 metric tonnes of CO2 emissions over the 25-year period. The proposed solar project in Rajasthan is part of Zelestra India's strategy to execute a diverse project portfolio exceeding 6 GW within the next three years.
Leo Moreno, Zelestra's global CEO, stated that the company is committed to providing its clients with the best techno-commercially customised solutions through innovation and collaboration, leveraging its extensive experience in developing and building renewable projects worldwide.
Sajay K V, Zelestra's India CEO, highlighted that the company had recently secured 1.5 GW of PPAs this year alone, underscoring its aggressive expansion plans in India. He added that with Zelestra's global capabilities, strong local insights, and financial stability, the company is well-positioned to exceed stakeholders' expectations.
Zelestra employs a range of generation and energy storage technologies, including solar, wind, batteries, and green hydrogen, to drive the energy transition forward. The company has evolved from a centralised renewable developer into a global, customer-centric platform, providing innovative decarbonisation solutions. With a portfolio of 20 GW of carbon-free projects across 13 countries, Zelestra is a vertically integrated company specialising in developing, constructing, commercialising, and operating large-scale renewable energy projects. The company is supported by EQT, one of the world's largest fund managers, with $232 billion in assets.
