First Solar Signs 15-year PPA with Cleantech Solar for Renewable Energy

By Editor


First Solar has announced 15-year Power Purchase Agreement (PPA) with Cleantech Solar, a provider of renewable energy solutions in India and Southeast Asia.

The agreement outlines Cleantech Solar’s construction of 150 MW of photovoltaic (PV) solar and 16.8 MW of wind-generating assets in Tamil Nadu, India, aimed at supplying about 7.3 gigawatt-hours (GWh) of clean electricity to First Solar’s 3.3-gigawatt (GW) solar manufacturing facility, also situated in Tamil Nadu.

First Solar said Cleantech Solar’s solar and wind power units are anticipated to cater to up to 70 percent of the facility’s power needs while offsetting nearly 7,000 kilotons of CO2 emissions over the PPA’s duration. Cleantech Solar’s solar and wind power units are expected to fully operational by the third quarter of 2024.

Cleantech Solar has additionally committed to procuring 150 MW of Series 7 thin film solar panels made in India by First Solar, slated for deployment in the initial half of 2024 to power the solar PV aspect of the PPA.

“Our manufacturing facility in Tamil Nadu sets a high benchmark for responsible and sustainable vertically integrated solar manufacturing, not just in India, but globally,” Sujoy Ghosh, managing director of First Solar in India, said.

“This collaboration extends beyond powering First Solar’s flagship manufacturing facility in India; it involves leveraging their advanced, ultra-low carbon thin film solar panels to energize our solar assets,” Sachin Jain, CEO of Cleantech Solar, said.

The agreement, considered one of India’s largest intra-state PPAs, bolsters Cleantech Solar’s portfolio in Tamil Nadu, encompassing nearly 500 MW across solar, wind, and hybrid power projects, catering to corporate clients and contributing to the region’s renewable energy goals.

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