February 5 (Renewables Now) - EDF Renewables and its Indian partner SITAC Group have signed a 300-MW power purchase agreement (PPA) for an unnamed project in India, the green unit of French utility EDF (EPA:EDF) said on Monday.
The 25-year deal was sealed with the Solar Energy Corporation of India (SECI), India’s nodal agency for implementing the National Solar Mission, after the partners won a competitive selection in September 2018. Construction on the project is slated to begin this year, according to the press release.
The particular project will be implemented by SITAC Management & Development Pvt Ltd, a joint venture of EDF Renewables and Sitac Group, which will be in charge of the development, construction, financing and asset management. Once completed, the plant will be able to generate electricity to supply over 1.3 million Indian people.
EDF Renewables noted that the project aligns with its strategy to double its installed renewable energy capacity globally to over 50 GW between 2015 and 2030. The company’s Indian portfolio currently consists of 800 MW of wind and solar assets in development, construction or operation.