Jindal India Renewable Energy Secures 300 MW Solar Project

Jindal India Renewable Energy has obtained a Letter of Acceptance for a 300 MW solar plus storage project from NHPC. The project will be executed on a Build-Own-Operate basis, with a 25-year agreement selling solar power to NHPC, contributing significantly to renewable energy efforts in India.

Jindal India Renewable Energy (JIRE) announced on Monday that it has received a Letter of Acceptance for a 300 MW solar plus storage project from NHPC, a state-owned entity. This venture marks a significant milestone for JIRE in its ongoing efforts to expand solar capabilities.

The project, which will operate on a Build-Own-Operate basis, is set to be completed within 24 months following the signing of the Power Purchase Agreement (PPA). It forms part of NHPC's broader 1200 MW solar power initiative that includes extensive energy storage systems.

JIRE, part of the BC Jindal Group, will sell power generated at a tariff of Rs 3.09/kWh over a 25-year period to NHPC, which will then distribute it to various state utilities and other entities. This partnership is poised to bolster India's renewable energy infrastructure.

(With inputs from agencies.)