Project to integrate solar, wind and battery storage technologies; marks another milestone in Essar's ambition to build a diversified 5 GW energy portfolio

Mumbai, November 4, 2026: Essar Power is set to invest approximately ₹4,500 crore in a 300 MW Firm and Dispatchable Renewable Energy (FDRE) project in Andhra Pradesh, reinforcing its commitment to India's evolving clean energy landscape. Essar Renewables Limited (ERL), the renewable energy arm of Essar Power, has signed a Power Purchase Agreement (PPA) with NHPC Limited for the development of the project.

The proposed project will integrate solar and wind power generation with Battery Energy Storage Systems (BESS), enabling a more reliable and flexible supply of renewable electricity. The integration of multiple renewable energy sources with storage infrastructure is expected to address the intermittency challenges associated with conventional renewable power generation.

The investment represents a significant step in Essar Power's broader strategy to establish a diversified energy portfolio of approximately 5 GW, comprising renewable, thermal and gas-based power generation.

India's rapidly expanding industrial infrastructure, urbanisation and growing electricity requirements are creating an increasing need for dependable and sustainable energy solutions. Against this backdrop, the project reflects Essar's focus on strengthening its renewable energy capabilities while contributing to the country's long-term energy transition.

Commenting on the development, Srinivasan Vaidyanathan, Operating Partner – Infrastructure, Essar Group, said that developing a reliable and sustainable energy ecosystem would be critical to supporting India's ambitions under the vision of Viksit Bharat. He highlighted Essar's established experience in the energy sector and its focus on emerging technologies as important foundations for participating in India's next phase of energy growth.

Ankur Kumar, CEO, Essar Power, said the agreement with NHPC represents an important milestone in the company's renewable energy journey. He emphasised the company's focus on developing a strong portfolio across solar, wind and battery energy storage, while building a scalable renewable energy business.

The partnership with NHPC further strengthens Essar Renewables' presence in India's renewable energy sector. The company has already secured three major renewable energy projects through central public sector undertakings NHPC and SJVN, with an aggregate awarded capacity of approximately 1 GW.

NHPC Limited, a Navratna Central Public Sector Enterprise under the Ministry of Power, has traditionally been a major player in India's hydropower sector and has progressively expanded its operations into solar and wind energy.

With the proposed ₹4,500 crore investment, Essar Power is positioning itself to participate in the growing demand for integrated energy solutions that combine renewable generation, energy storage and conventional power capabilities.

The initiative also aligns with India's national ambition of achieving 500 GW of non-fossil-fuel-based installed electricity capacity by 2030, supporting the development of a more resilient, sustainable and future-ready energy ecosystem.

About Essar Renewables Limited

Essar Renewables Limited (ERL), part of Essar Power, focuses on developing and scaling renewable energy solutions across India and international markets. Its business interests include utility-scale renewable energy, captive renewable power and emerging clean energy solutions. The company is actively pursuing opportunities to contribute to India's transition towards a sustainable and lower-carbon energy ecosystem.

About Essar Group

Essar is a global conglomerate with a portfolio of businesses across Energy, Infrastructure, Metals & Mining, and Technology & Retail. With over five decades of entrepreneurial experience, the Group has executed investments exceeding US$30 billion and continues to focus on building and scaling businesses across global markets.

Source: Moneycontrol