Business EconomyPosted at: Nov 4 2026 1:17PM


Essar to invest Rs 4500 crore in Andhra Pradesh renewable power project under NHPC agreement

Mumbai, Nov 4 (UNI) 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, involving an investment of approximately Rs 4500 crore.
The project will combine solar and wind generation with Battery Energy Storage Systems (BESS) to provide reliable, dispatchable electricity. It forms part of Essar Power's proposed 5 GW portfolio covering renewable, thermal and gas-based generation.
Srinivasan Vaidyanathan, Operating Partner for Infrastructure at Essar Group, said India's Viksit Bharat ambitions required a reliable and sustainable energy ecosystem. He said the group's energy-sector experience, technological focus and emerging opportunities would support its participation in India's energy expansion.
Essar Power CEO Ankur Kumar described the agreement as an important milestone in developing a scalable renewable energy business across solar, wind and battery storage technologies.
NHPC, a government-owned Navratna enterprise under the Ministry of Power and India's largest hydropower development organisation, has expanded into solar and wind energy.
Essar said its strategy combines cleaner energy investments with conventional generation to support electricity demand, energy security and grid reliability. The company linked its plans to India's target of 500 GW of renewable energy capacity by 2030.
ERL operates in Indian and international markets, pursuing utility-scale renewable projects, captive power and emerging clean energy solutions. It has secured three major renewable energy tenders from NHPC and SJVN, with approximately 1 GW in aggregate awarded capacity.
Essar Group operates in energy, infrastructure, metals and mining, technology and retail. With over five decades of experience, it reports investments exceeding USD 30 billion, annual revenues of approximately USD15 billion and more than 7000 employees worldwide.
Essar Power has over 30 years of experience in generation and transmission, having built and operated more than 5 GW of capacity and 464 km of transmission lines, with cumulative investments approaching Rs 30000 crore.
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