Cleantech Solar has entered into a captive power purchase agreement (PPA) with First Solar for a period of 15 years. As per the contract, First Solar’s recently established 3.3 GW vertically integrated solar manufacturing facility, situated in Tamil Nadu, will receive power from Cleantech Solar’s 150 MW and 16.8 MW of solar and wind-generating assets being built in Tamil Nadu, India.
Upon reaching full operational status by the third quarter of 2024, the solar and wind generation assets are anticipated to fulfill approximately 70 per cent of the plant’s expected power requirements. It is projected that the facilities will mitigate nearly 7,000 kilo tonnes of emissions throughout the term of the PPA. Additionally, Cleantech Solar has committed to purchasing 150 MW of series 7 thin-film solar panels manufactured in India by First Solar. These modules will be utilised to generate power for the solar photovoltaic segment of the PPA, with an anticipated delivery in the first six months of 2024.
In September 2023, CleanTech Solar announced the commercial operation of its maiden virtual power purchase agreement.
In July 2023, Cleantech Solar announced signing of long-term power purchase agreements with leading commercial and industrial customers in Tamil Nadu to develop 60 MWp of open access solar photovoltaic projects. These projects are being built in Tirunelveli district.
