Jindal India Renewable Energy gets LoA for 300 MW solar project from NHPC

On Monday, Jindal India Renewable Energy announced that it has obtained a Letter of Acceptance for a 300 MW solar plus storage project from the government-owned NHPC. The company announced in a statement that the project will be carried out on a Build-Own-Operate (BOO) model within 24 months after the signing of the Power Purchase Agreement (PPA).

The initiative is a component of NHPC’s tender for solar power projects linked to the 1200 MW inter-state transmission system, featuring energy storage systems of 600 MW/1200 MW.

A 600 MW/1200 MW Energy Storage System (ESS) indicates that 600 MW of battery energy can supply backup power for two hours, resulting in an overall output of 1200 MW, it stated. Jindal India Renewable Energy (JIRE) has secured the 300 MW capacity at a tariff of Rs 3.09/kWh (kilowatt hour).

NHPC will sign a contract with JIRE for a duration of 25 years. The Navratna firm will buy solar energy from JIRE and sell it to state utilities and other customers. JIRE is a division of the BC Jindal Group, which has evolved from a steel pipe producer to a prominent conglomerate in the energy sector over time.