Zelestra inks pact to supply 450 MW solar power to NTPC

Spanish renewable energy company Zelestra has announced that it has signed an agreement to supply electricity from its 450 MW solar project in Rajasthan to state-owned energy giant NTPC. The long-term deal with NTPC will cover the entire output of the future plant, which is estimated to be around 801 GWh annually, a statement from the company said.

The statement revealed that NTPC and Zelestra recently entered into a 25-year power purchase agreement (PPA) for the 450 MWp solar project in Rajasthan, India. The supply of electricity from this project is expected to result in a significant reduction of 13,555,774 metric tons of carbon emissions over the period of 25 years. The proposed solar project in Rajasthan is part of Zelestra India’s strategy to execute a diverse project portfolio of over 6 GW within the next three years.

Leo Moreno, Global CEO of Zelestra, stated that the company is committed to providing its customers with the best technical-commercial, customized solutions through innovation and collaboration, leveraging its extensive experience in developing and building renewable projects worldwide.

Sajay K V, CEO of Zelestra in India, highlighted that the company had recently secured 1.5 GW of PPAs this year alone, underscoring its aggressive expansion plans in India. He added that with Zelestra’s global capabilities, strong local insights and financial stability, the company is well positioned to exceed stakeholder expectations.

Zelestra leverages a range of generation and energy storage technologies, including solar, wind, batteries and green hydrogen, to drive the energy transition. The company has evolved from a centralized renewable energy developer to a global, customer-focused platform providing innovative decarbonization solutions. With a portfolio of 20 GW of carbon-free projects across 13 countries, Zelestra is a vertically integrated company specialized in developing, constructing, commercializing and operating large-scale renewable energy projects. The company is backed by EQT, one of the world’s largest fund managers, with $232 billion in assets.

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