Spanish renewable energy developer Zelestra, previously known as Solarpack, has entered into a 25-year power purchase agreement (PPA) with India’s NTPC for a 450 MWp solar project in Rajasthan. This agreement follows it’s successful bid for the project earlier this year in January.
The PPA with NTPC ensures that the entire output of the solar plant, estimated to produce approximately 801 GWh annually, will be sold to the Indian energy company. The project is expected to reduce carbon dioxide emissions by 13,555.774 metric tons over its 25-year lifespan.
This solar project is part of it’s broader strategy to build a diverse portfolio exceeding 6 GW in the next three years. Zelestra’s global CEO, Leo Moreno, commented, “At Zelestra, we are committed to providing our clients with the best techno-commercial solutions through innovation and collaboration, drawing on our extensive experience in developing and constructing renewable energy projects worldwide.”
With a carbon-neutral project portfolio totaling 20 GW across 13 countries, it specializes in the development, construction, and operation of large-scale renewable energy projects. The company is supported by EQT, a leading global fund manager with $232 billion in assets under management.
Sajay KV, CEO of Zelestra India, added, “Our recent achievement of securing 1.5 GW of PPAs this year alone highlights Zelestra’s ambitious expansion plans in India. With our global expertise, deep local knowledge, and financial strength, we are well-equipped to exceed our stakeholders’ expectations.”
