Essar Renewables Limited (ERL), the renewable energy arm of Essar Power, has signed a Power Purchase Agreement (PPA) with NHPC Limited for a 300 MW Firm and Dispatchable Renewable Energy (FDRE) project in Andhra Pradesh.

A Milestone Agreement

Under the agreement, announced on November 4, 2026, Essar Power will invest approximately USD 475.49 million in the project, which will integrate solar, wind, and Battery Energy Storage Systems (BESS) to deliver reliable and dispatchable renewable power.

The project marks a significant step for Essar Power, which has set out to build a diversified energy portfolio of approximately 5 GW spanning renewable, thermal, and gas-based power generation. The agreement with NHPC positions ERL to strengthen its growing presence in India's renewable energy sector.

Leadership Commentary

Commenting on the development, Mr. Srinivasan Vaidyanathan, Operating Partner, Infrastructure, Essar Group, said, "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."

Mr. Ankur Kumar, CEO, Essar Power, added, "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."

About NHPC Limited

NHPC Limited, a Navratna enterprise of the Government of India under the Ministry of Power, is India's largest hydropower development organization. Over the years, NHPC has diversified its operations into solar and wind energy and is strengthening its presence across the renewable energy sector. The PPA with Essar Renewables reflects this ongoing expansion beyond the company's traditional hydropower base.

Essar's Renewable Track Record and Broader Strategy

Essar Renewables has already 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 is focused on developing and scaling renewable energy solutions in India and international markets, pursuing opportunities across utility-scale renewable energy, captive renewable power and emerging clean energy solutions.

Essar Power's energy strategy reflects what the company describes as a balanced approach to India's evolving energy landscape, combining investments in renewable energy and emerging clean energy solutions with reliable conventional power generation.

As electricity demand continues to grow across India's industrial and urban centres, Essar Power says it is focused on building an integrated energy portfolio that supports energy security, grid reliability and the country's transition towards a lower-carbon future.

These initiatives, according to the company, align with India's national energy priorities and contribute to the country's target of achieving 500 GW of renewable energy capacity by 2030.

Essar Power's Pedigree in the Power Sector

A pioneer in India's private power sector, Essar Power has over 30 years of experience in power generation and transmission. Over this period, the company has built and operated more than 5 GW of capacity and 464 km of transmission lines, with cumulative investments of nearly USD 3.17 billion.

The new 300 MW FDRE project adds to this legacy as the company accelerates its transition towards cleaner energy while strengthening its conventional generation capabilities.

The broader Essar Group, a global conglomerate with over five decades of entrepreneurial experience, has executed investments exceeding USD 30 billion. Today, the Group operates across the Energy, Infrastructure, Metals & Mining, and Technology & Retail sectors, generating approximately USD 15 billion in annual revenues and employing more than 7,000 people worldwide.

Context: India's Clean Energy Push

The FDRE model, combining solar, wind, and battery storage to deliver dispatchable renewable power, is central to the project's design, addressing the need for grid reliability as India scales its renewable capacity.

The announcement comes as India pursues its stated target of 500 GW of renewable energy capacity by 2030, with public sector enterprises such as NHPC and SJVN playing a role in procuring renewable capacity from private developers.

With the NHPC PPA now in place, Essar Renewables' awarded portfolio from central public sector tenders stands at approximately 1 GW, with the USD 475.49 million investment earmarked for the 300 MW Andhra Pradesh project representing the company's latest and most detailed commitment in the FDRE space to date.

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