First Solar said it has entered into a 15-year captive power purchase agreement (PPA) with Cleantech Solar, a renewable energy solutions provider to corporations in India and Southeast Asia.
According to the official press release, under the agreement, Cleantech Solar will construct 150 MW of PV solar and 16.8 MW of wind generating assets in Tamil Nadu supplying 7.3 GWh of clean electricity to First Solar’s new 3.3-GWvertically integrated solar manufacturing facility, also located in Tamil Nadu. When fully commissioned by the third quarter of 2024, the solar and wind generation assets are expected to provide up to 70 per cent of the facility’s anticipated electricity needs, added the company.
“Our new manufacturing facility in Tamil Nadu sets a high benchmark for responsible and sustainable vertically integrated solar manufacturing, not just in India, but globally,” said Sujoy Ghosh, vice president and managing director, First Solar, India. It said that Cleantech Solar has agreed to procure 150 MW solar panels from First Solar, utilizing the modules to power the solar PV component of the PPA.
The modules are expected to be delivered in the first half of 2024. “This collaboration enables our partners’ efforts to diversify their energy sources, integrate renewable energy into their operations, and achieve a higher degree of stability and sustainability in their power supply,” said Sachin Jain, chief executive officer, Cleantech Solar.
