Mumbai, September 12, 2024: Apraava Energy, India’s leading integrated energy solutions provider, announced today that it has signed a Power Purchase Agreement (PPA) for a 300 MW interstate transmission system (ISTS) connected solar energy project with NTPC Limited. The project to be set-up in Rajasthan, within a scheduled completion period of 24 months, has been secured through an e-reverse auction mechanism at a tariff of INR 2.65 per kWh.
This project further strengthens Apraava’ s presence in Rajasthan, following its maiden 250 MW greenfield solar project announced in January 2024, secured through NHPC. Apart from these two solar assets, Rajasthan is also home to Apraava’s three existing wind projects with a combined capacity of 253.6 MW and three under-construction transmission projects.

Mr. Rajiv Ranjan Mishra, Managing Director, Apraava Energy, said, "We are excited to add our largest solar project to date into our growing renewable energy portfolio. Rajasthan is one of the strategic states, playing a pivotal role in achieving India's clean energy goals. We are committed to pursuing such opportunities for building on our low-carbon businesses and ensuring timely execution of projects."

The bid is part of the solar tender issued by NTPC for setting up 1500 MW ISTS-connected Solar PV Power Projects anywhere in India. The PPA between NTPC and Apraava Energy is for a period of 25 years from the scheduled commencement of supply date. As part of the agreement, Apraava Energy will be responsible for building, owning, and operating the project for the PPA tenure.

The company's current operational portfolio of RE (Solar and Wind) stands at ~1,420 MW, with projects spread across the states of Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Tamil Nadu, Telangana, and Karnataka. In addition, Apraava has ~900 MW of RE projects under-construction.

About Apraava Energy
Apraava Energy is India’s leading integrated energy solutions provider head quartered in Mumbai. It is jointly owned by the CLP Group —one of the largest investor-owned power businesses in Asia and Caisse de dépôt et placement du Québec (CDPQ) —a global investment group.

Founded in 2002, Apraava has evolved from being a single asset business to a forward looking, climate-conscious organisation. Its portfolio comprises 3,394 MW of installed capacity which includes ~1200 MW of wind and 250 MW of solar energy projects, a 1320 MW coal-fired super critical power plant and two power transmission assets (~494 kms), all spread across 11 states. In addition, four greenfield transmission projects (~485 kms), a wind project (300 MW) and two solar projects (550 MW) are under construction. The company has also forayed into Advanced Metering Infrastructure (AMI) business and is executing orders of ~4.7 million smart meters in Assam, Gujarat, West Bengal, and Himachal Pradesh.

Apraava Energy is among the handful of Indian power sector companies to commit to the SBTi and only the second in the sector to have them validated.

In line with its business strategy, Apraava is committed to investing in low-carbon growth areas, including renewable energy, power transmission and distribution, as well as other non-generation, customer-focused energy businesses.

For further information, please contact:

Apraava Energy Madhurima Gupta Jain M: +91 98193 82087 E: madhurima.jain@apraava.com

Edelman India Santosh Castelino M: +91 75065 49290 E: Santosh.Castelino@edelman.com