Hexa Climate has signed a power purchase agreement (PPA) with NHPC for a 160 MW firm and despatchable renewable energy (FDRE) project. The project includes 80 MW of base capacity and an additional 80 MW under the greenshoe option. It will supply round-the-clock renewable power through an interstate transmission system under a 25-year agreement. NHPC will act as the intermediary procurer, while the power will be supplied to Punjab State Power Corporation Limited.
The project has an annual capacity utilisation factor of 65 per cent and was awarded through competitive bidding at a tariff of Rs 4.33 per kWh. According to the company, the project is expected to avoid around 7,47,000 tonnes of carbon dioxide emissions annually, roughly accounting to 18.7 million tonnes over the project’s lifetime. The tariff and project framework have been adopted by both the Central Electricity Regulatory Commission and the Punjab State Electricity Regulatory Commission.
Earlier, in May 2026, Hexa Climate Solutions completed the acquisition of Fortum’s renewable energy assets in India. The deal included a full 100 per cent stake in Fortum India, comprising Fortum’s 206 MW commercial and industrial renewable energy portfolio.
