Apraava Energy secures 300 MW solar project from NTPC

New Delhi: Apraava Energy, a leading provider of integrated energy solutions, announced on Thursday that it has secured a 300 MW solar project from state-owned power giant NTPC Limited. The project, located in Rajasthan, is expected to be completed within a 24-month timeline and was awarded through an e-reverse auction at a competitive tariff of Rs 2.65 per kWh, according to a company statement.

Apraava Energy has signed a long-term Power Purchase Agreement (PPA) with NTPC for the 300 MW solar project, which will be connected to the Interstate Transmission System (ISTS). This marks a significant addition to Apraava's renewable energy portfolio, further solidifying its presence in Rajasthan. Earlier in January 2024, Apraava announced its inaugural 250 MW greenfield solar project, secured through NHPC.

In addition to these solar assets, Apraava operates three wind projects in Rajasthan, with a combined capacity of 253.6 MW, alongside three under-construction transmission projects. The company’s Managing Director, Rajiv Ranjan Mishra, expressed enthusiasm about expanding Apraava’s renewable energy footprint with its largest solar project to date.

The bid for the 300 MW project is part of NTPC’s larger solar tender for 1,500 MW ISTS-connected Solar PV Power Projects across India. The PPA will remain in effect for 25 years from the scheduled commencement of supply. Apraava will be responsible for the construction, ownership, and operation of the project during this period.

Currently, Apraava Energy’s operational renewable energy portfolio (solar and wind) stands at 1,420 MW, with projects distributed across Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Tamil Nadu, Telangana, and Karnataka. The company also has 900 MW of renewable energy projects under construction.