Key Power Sector News Roundup for September 26, 2024

MERC approves MSEDCL’s procurement of 5,991 MW solar power The Maharashtra Electricity Regulatory Commission (MERC) approved MSEDCL’s procurement of 5,991 MW solar power under Mukhyamantri Saur Krushi Vahini Yojana 2.0. The Rs 3.10 per kWh ceiling tariff ensures competitive pricing. This initiative aims to solarize 30% of agricultural feeders by 2025, helping meet rising renewable purchase obligation (RPO) targets and easing Koyna hydroelectric plant’s peak demand. Zelestra signs 450 MW solar power supply agreement with…

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Zelestra signs 450 MW solar power supply agreement with NTPC in Rajasthan

Spanish renewable energy company Zelestra has signed a 25-year power purchase agreement (PPA) with NTPC to supply electricity from its 450 MW solar project in Rajasthan. This project will reduce CO2 emissions by 13,555.774 tonnes over the PPA’s duration. The solar project is part of Zelestra India’s plan to develop over six GW of renewable energy projects in the next three years. Zelestra, backed by EQT with USD 232 billion in assets, operates a 20…

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Zelestra secures €132 million financing for 435 MW solar project in Rajasthan

Zelestra has finalized €132 million in green financing for its 435 MW solar photovoltaic project in Gorbea, Rajasthan. The financing was provided by HSBC, Credit Agricole, MUFG, and Bank of America, aligning with Zelestra’s Green Financing Framework and the Green Loan Principles issued by the Loan Market Association. The project will supply power to the Solar Energy Corporation of India (SECI) under a 25-year agreement. The solar plant is expected to generate enough electricity to…