Author: PPD Team Date: 16/04/2025
BrightKnight and Hero Future Energies (HFE) have signed 25-year power purchase agreements (PPAs) with NTPC Limited. The agreements, finalized on April 15, 2025, cover the development of a combined 230 MW of Firm and Dispatchable Renewable Energy (FDRE) projects.
These projects will be connected through the Inter-State Transmission System (ISTS), offering reliable, renewable energy from wind-solar hybrid sources coupled with energy storage systems. The installations can be developed anywhere in India under NTPC’s Tranche-II FDRE initiative.
BrightKnight is set to develop 110 MW of FDRE ISTS-connected renewable energy capacity. Meanwhile, Hero Future Energies will build 120 MW under the same scheme. Both companies will own and operate the projects, which are being set up on a Build, Own, and Operate (BOO) model.
These agreements follow BrightKnight and HFE’s successful bids in NTPC’s Tranche-II FDRE auction held in March 2024. BrightKnight secured its 110 MW capacity at a tariff of ₹4.72 per kWh, while HFE won its 120 MW capacity with a slightly lower bid of ₹4.69 per kWh. NTPC had originally floated tenders for a total capacity of 3,000 MW back in October 2023.
The companies now have 24 months from the signing date to commission the projects. Once operational, these hybrid power systems—complete with energy storage—are expected to provide consistent and dispatchable green energy, supporting India’s transition to a cleaner power grid.