Zelestra inks pact to supply 450 MW solar power to NTPC

Spanish renewable energy firm Zelestra on Wednesday said it has inked a pact to supply electricity from its 450 MW solar project in Rajasthan to state-owned power giant NTPC. The long-term deal with NTPC covers the entire output of the future plant, which is estimated to stand around 801 GWh annually, a company statement said.

According to the statement, NTPC and Zelestra recently signed a 25-year power purchase agreement (PPA) for the 450 MWp solar project in Rajasthan, India. This (supply of power) will result in a significant reduction of 13,555.774 metric tonnes of CO2 emissions over 25 years. The proposed solar project shall be commissioned in Rajasthan to support Zelestra India's goal of executing a diverse project portfolio exceeding 6 GW in the next three years.

"At Zelestra, we are dedicated to serving our clients with the best techno-commercially customized solutions through innovation and collaboration, leveraging our long history of developing and building renewable projects around the world," Leo Moreno, Zelestra's global CEO, said in the statement."Our recent success of securing 1.5 GW of PPAs this year alone underscores Zelestra's aggressive expansion plans in India.

With our global capabilities, our strong local insights, and financial stability, we are well-positioned to exceed our stakeholders' expectations," Zelestra's India CEO Sajay K V said. The company leverages multiple generation and energy storage technologies, including solar, wind, batteries, and green hydrogen, to drive the energy transition forward.

It has evolved from a centralized renewable developer to a global, customer-centric platform, providing innovative decarbonization solutions. With a portfolio of 20 GW of carbon-free projects across 13 countries, Zelestra is a vertically integrated company specializing in developing, constructing, commercializing, and operating large-scale renewable energy projects. It is backed by EQT -- one of the largest fund managers in the world, with USD 232 billion in assets.