Juniper Green Energy surpasses 1.2 GW of renewable energy capacity by securing power purchase agreement’s (PPAs) during last few months. Recently, the company has secured wind and solar projects of 190 MW and 105 MW capacities, respectively from Gujarat Urja Vikas Nigam Limited and Maharashtra State Electricity Distribution Company Limited, respectively. These projects were awarded through competitive bidding and e-reverse auction at an average tariff of Rs 3 per kWh.
As per the tender guidelines, the companies will sign PPAs for a period of 25 years, commissioning the projects within 18-24 months from the date of letter of award. The company has begun work on its first 140 MW inter-state transmission system solar plant under the merchant method. These projects together are projected to inject 1.4 billion kWh of clean electricity annually, reducing carbon emissions by 1.3 million tonnes. The projects are expected to provide electricity to 280,000 households.
Recently, in July 2023, at the 14th Clean Energy Ministerial meeting, Juniper Green Energy and Power Finance Corporation Limited signed a memorandum of understanding (MoU) for Rs 50 billion to support 1,200 MW of renewable energy projects.