India, Nov. 4 -- Essar Power is set to invest around Rs. 4,500 crore in a 300 MW renewable energy project in Andhra Pradesh following a power purchase agreement (PPA) between its renewable energy subsidiary, Essar Renewables Ltd (ERL), and state-owned NHPC Ltd.
The proposed project will combine solar and wind power generation with Battery Energy Storage Systems (BESS) to ensure a reliable supply of firm and dispatchable renewable energy, the company said in a statement.
The agreement represents another milestone in Essar Power's strategy to develop a diversified energy portfolio with an estimated capacity of 5 GW across renewable, thermal and gas-based power generation.
The investment is expected to strengthen the company's presence in t...