Statkraft opens largest Indian project to date, plots future growth in key market

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Statkraft said it sees India as a key solar market moving forward and is also exploring opportunities for green hydrogen production. Image: Unsplash

Norwegian energy giant Statkraft has opened its first large-scale solar plant in India as it targets long-term growth in the South Asia country.

The 76MW/120GWh Nellai solar project is located in the southern state of Tamil Nadu and will generate enough electricity to power more than 500,000 Indian homes, Statkraft said in a media statement.

It has been developed under the ‘Indian Group Captive-model’ where Statkraft’s customers own a minimum share of 26% of the plant and buy the electricity produced via long-term power purchase agreements (PPA).  

Belectric’s Indian division was responsible for the construction of the site and will also deliver the operation & maintenance (O&M) services for the first three years.

Oslo-headquartered Statkraft said it had ambitions to ramp up its renewables operations in India through “focusing on the development of greenfield solar projects at utility scale”.

“Nellai is the first project in realising this business objective and supports our strategy to strengthen our industrial presence in the solar segment and grow our customer-oriented business,” said Statkraft executive vice president of international power, Jürgen Tzschoppe.

Statkraft’s portfolio in India currently stands at 215MW and it is actively pursuing green hydrogen opportunities in the country through a collaboration with Aker Horizons.

In October last year, Statkraft released a report that urged for greater action on decarbonisation to meet climate targets, put renewables at the centre of any strategy and placed huge importance on the role of green hydrogen in the energy transition.

4 October 2022
Solar & Storage Finance USA, the only event that connects developers to capital and capital to solar and storage projects, will be back in November 2022.

Read Next

June 30, 2022
D.E. Shaw Renewables Investments (DESRI) has secured up to US$400 million in new capital finance to support its US renewables strategy.
June 29, 2022
Arab-speaking countries in the MENA region have planned to increase utility-scale solar capacity by 49.5 GW by 2030, according to Global Energy Monitor.
June 29, 2022
A round-up of the latest news from the US solar market, including EDF Renewables selling its 270MWdc Huck Finn Solar Project to a local utility, CS Energy partnering to deliver New York community solar and NextEnergy Capital expanding its US presence.
June 29, 2022
The US solar industry added 17,212 jobs in 2021, up 5.4% on 2020 figures, with 40% of all US energy jobs now focused on the transition to a net zero economy, according to the Department of Energy’s (DOE) US Energy and Employment Report (USEER).
PV Tech Premium
June 28, 2022
Solar and energy storage were described by Elon Musk as going together “like peanut butter and jelly”. Andy Colthorpe meets some of the players creating this winning combination in the US.
June 28, 2022
Utility-scale renewables developer Intersect Power has secured US$750 million in funding to take its portfolio of renewables, energy storage and green hydrogen projects beyond 8GW.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event