Seshasayee Paper to source 39 MW renewable power from hybrid project

Seshasayee Paper and Boards will source 39 MW of renewable energy from a wind-solar hybrid project being developed by Ganeko Solar in Tamil Nadu. The project will include 33 MW of solar and 6 MW of wind capacity.

The hybrid facility will be developed under a special purpose vehicle (SPV) named Navia One Power. Seshasayee Paper will invest Rs 165.6 million to acquire up to 28.1 per cent equity in the SPV. This move is intended to partially meet the company’s energy needs through renewable sources.

Ganeko Solar, an affiliate of Zelestra Corporacion, has signed share purchase, energy supply, and shareholder agreements with its parent company to execute the project.

Ganeko Solar is also involved in other hybrid energy ventures, including a 25-year PPA with SJVN Limited for a Gujarat-based project developed by Solarpack. In a separate auction, JSW Neo Energy and Ganeko Solar each secured 300 MW of hybrid capacity.