BC Jindal Group’s JIRE Secures 300 MW Solar-BESS Order from NHPC
Mumbai: Jindal India Renewable Energy (JIRE), the renewable energy arm of BC Jindal Group, has received the Letter of Acceptance (LoA) for a 300 MW solar plus storage project from NHPC.
The project is part of NHPC’s 1200 MW inter-state transmission system-connected solar power projects tender with 600 MW/1200 MW energy storage systems. JIRE has bagged 300 MW of solar power capacity from NHPC at a tariff of Rs 3.09/kWh.
According to the terms, JIRE will execute the solar project on a build-own-operate basis and complete it within 24 months from signing the power purchase agreement (PPA). Initially, JIRE had won 180 MW capacity of the Solar-BESS project from NHPC, which was later increased to 300 MW.
Amit Kumar Mittal, CEO of Jindal India Renewable Energy, stated, “Securing the LoA for 300 MW capacity after competitive bidding is testimony to JIRE’s ability and expertise to deliver substantial projects in the evolving renewable energy space.”
NHPC will enter into an agreement with JIRE for a period of 25 years, purchasing solar power from JIRE and selling it to state utilities and others. As part of the contract, JIRE will deploy an energy storage system (ESS) of at least 0.5 MW/ 1MWh capacity for 1 MW contracted capacity.
JIRE aims to strategically expand its capacity portfolio by acquiring key operational assets within the country and across geographies. The company plans to augment its presence and is actively pursuing aggressive acquisitions of operational assets both domestically and abroad.
