Solarpack, SJVN ink 482MW Indian hybrid solar-wind PPA

Solarpack has closed financing on a 300MW solar PV plant in Peru
Solarpack’s hybrid solar-wind 482MW project will be located in the Indian state of Gujarat. Image: Solarpack.

Spanish PV developer Solarpack has signed a power purchase agreement (PPA) with Indian state-owned utility SJVN for a 482MW hybrid solar-wind park.

Located in the Indian state of Gujarat, the Ganeko project consists of 383MW of solar PV capacity and 99MW of wind capacity. Electricity generated from the project will be provided to the utility for a 25-year period.

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The Spanish developer will supply energy from the hybrid solar-wind park in 2026.

This is the latest long-term PPA secured by Solarpack in India, where it signed a 410MW solar PV PPA with utility the Solar Energy Corporation of India earlier this year. The Gorbea solar project will be located in the northern state of Rajasthan.

Sajay K. V., Solarpack’s CEO of India, said: “By winning this wind and solar hybrid contract, Solarpack demonstrates its ability to compete in the evolving multi-technology renewable space in India. Through the Ganeko hybrid project, we reach a portfolio of 1GW in India within the first half of 2024, which is in line with our strategic plan to develop 5GW of multi-technology products in the country.”

Earlier this year, SJVN’s subsidiary SJVN Green Energy, launched a tender seeking a 2GW supply of solar PV modules for several projects across India.

The increased volume of PPAs signed by utilities has been accompanied by a record tendered capacity for solar PV in India between April 2023 and March 2024, with 70GW of capacity tendered. This is not the only positive news for the Indian solar industry which saw a record 10GW of solar PV capacity installed during the first quarter of 2024, the country’s best quarter recorded.

With the first quarter of the year alone, India has nearly installed as much capacity as the entirety of 2023, according to data from market research firm JMK Research.

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