Essar Power to invest Rs 4,500 cr in 300 MW renewable energy project in Andhra Pradesh
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- ✓NHPC, a Navratna public sector enterprise under the Ministry of Power, is the country’s largest hydropower development organisation.
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Essar Power is set to invest around Rs 4,500 crore in a 300 MW renewable energy project in Andhra Pradesh, after its renewable energy arm, Essar Renewables Ltd (ERL), signed a power purchase agreement (PPA) with state-owned NHPC Ltd.
The project will deploy a combination of solar and wind power generation, supported by Battery Energy Storage Systems (BESS), to supply firm and dispatchable renewable energy, the company said in a statement. The company said the project is part of its strategy to build a diversified energy portfolio of approximately 5 GW, spanning renewable, thermal and gas-based power generation.
The investment comes as India seeks to expand renewable energy capacity while addressing the challenges of intermittency and grid reliability. Firm and Dispatchable Renewable Energy (FDRE) projects combine different generation sources with energy storage to provide more predictable power supplies than standalone solar or wind installations.
“As India advances towards the vision of Viksit Bharat, building a reliable and sustainable energy ecosystem will be critical to supporting its ambitions. Essar's experience in the energy sector, combined with our focus on new technologies and emerging opportunities, gives us a strong foundation to participate in this next phase of India's energy growth,” said Srinivasan Vaidyanathan, Operating Partner, Infrastructure, Essar Group.
Ankur Kumar, Chief Executive Officer (CEO) of Essar Power, said the agreement would strengthen the company’s renewable energy portfolio across solar, wind and battery storage. “At Essar Renewables, we are focused on building a strong portfolio across solar, wind and Battery Energy Storage Systems, tapping into the growing opportunities in India's renewable energy sector.
The 300 MW FDRE project with NHPC is an important milestone in this journey, strengthening our portfolio and advancing our ambition to build a scalable renewable energy business,” he said. Essar Renewables has secured three major renewable energy tenders from central public sector undertakings NHPC and SJVN, with an aggregate awarded capacity of approximately 1 GW, The company said.
NHPC, a Navratna public sector enterprise under the Ministry of Power, is the country’s largest hydropower development organisation. The project is part of Essar Power’s wider strategy to balance investments in renewable energy and emerging clean energy technologies with conventional power generation.
“As electricity demand continues to grow across India's industrial and urban centres, Essar Power is focused on building an integrated energy portfolio that supports energy security, grid reliability and the country's transition towards a lower-carbon future,” the company added.
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| Issuing Authority | Indian Express Economy & Markets |
|---|---|
| Topic Category | BUSINESS |
| Jurisdiction | All India / National |
| Publication Date | 4 November 2026 |