Infrastructure & PPPs in India - Q2 2025 Update - Clean Energy Transition

YOG INFRA Q2 2025 insights

INDIA is seeing rapid developments to scale renewable energy capacity in the country, with major partnerships being announced between local and international developers. In a significant policy move to boost grid-scale energy storage, the Ministry of Power has approved an expanded Viability Gap Funding (VGF) scheme for 30 GWh of Battery Energy Storage Systems (BESS) - another strong policy impetus from the government. New transmission projects have also been announced to enhance the grid capacity for new projects in the country.

Read more about key developments in Infrastructure and PPPs in India in power & clean energy transition sector our latest insight.

This is first publication on a 2-part insight series on India.

---

APRIL 2025

GREENKO UNVEILS USD 4.2 BN RENEWABLE ENERGY PLUS STORAGE PROJECT IN ANDHRA PRADESH

Greenko’s integrated renewable energy project at Pinnapuram, Andhra Pradesh is one of the world’s largest gigawatt-scale integrated renewable energy developments. With a total investment of USD 4.2 Bn, the project aims to decarbonize hard-to-abate sectors such as steel and aluminum.

The facility will comprise 4 GW of solar and 1 GW of wind generation capacity, supported by 1.68 GW / 10.08 GWh of pumped hydro storage. The pumped storage segment alone accounts for USD 1.2 Bn (approx. 99.6 Bn) of the investment, while the solar and wind infrastructure represents USD 3 Bn. Once operational, the project is expected to avoid approximately 3.3 Mn tonnes of CO₂ emissions annually. It will also contribute to regional economic growth, the development of ancillary industries, and job creation.

Greenko is currently building a national cloud energy platform, which includes several pumped hydro storage assets across India, with a total target of over 100 GWh. The company operates nearly 12 GW of renewable energy capacity and has an additional 20 GW under construction across more than 15 Indian states. It aims to expand its portfolio to 50 GW by 2030. The Pinnapuram project is a central part of this strategy, integrating renewable generation and long-duration storage to deliver dispatchable clean power to the grid.

HERO FUTURE ENERGIES SECURES PPA FOR 120 MW RENEWABLE-PLUS-STORAGE PROJECT, SIGNS GREEN HYDROGEN MOU

Hero Future Energies has signed a power purchase agreement (PPA) to develop a 120 MW firm and dispatchable renewable energy project. The project was secured under a competitive tender for the supply of 1.2 GW of firm and dispatchable power from renewable energy sources with energy storage systems. The approved tariff for the project is INR 4.25/kWh (USD 0.051/kWh).

The project will be developed on a build-own-operate basis and can be located anywhere in India, provided it connects to the interstate transmission system. Once operational, it will supply energy to a northern Indian state for a duration of 25 years.

NEXGEN ENERGIA RAISES USD 1 BN FOR INDIAN COMPRESSED BIOGAS PLANTS 

Noida-based green energy company NexGen Energia Ltd has secured an equity investment pledge of USD 1Bn from Kuwait-based investment firm Capital Edge. This funding will support the nationwide expansion of Compressed Biogas (CBG) infrastructure, advancing India’s clean energy and energy independence goals.

NexGen Energia plans to establish 1,000 CBG plants by the end of 2026. This initiative will expand renewable energy capacity, create jobs, and address environmental and rural development challenges. CBG, derived from agricultural residue and organic biomass, provides a clean fuel alternative while contributing to waste management and rural income. Each plant is expected to support entrepreneurship, create employment, and cut methane emissions by converting organic waste into energy. Projections estimate that this rollout could generate over 50,000 direct and indirect jobs, mainly in rural and semi-urban areas.

India generates substantial agricultural waste, much of which remains underutilized. NexGen Energia aims to convert this biomass into clean energy. Under the government’s SATAT (Sustainable Alternative Towards Affordable Transportation) initiative, India targets 5,000 CBG plants by 2030. NexGen Energia’s target of 1,000 position it as a major contributor to this mission.

TATA POWER RENEWABLE ENERGY, NTPC JOIN HANDS TO SET UP 200 MW GREEN PROJECT

Tata Power Renewable Energy Ltd (TPREL) has signed a power purchase agreement (PPA) with NTPC Ltd to develop a 200 MW clean power project.

The Firm and Dispatchable Renewable Energy (FDRE) project, spread across multiple locations in India, is set to be completed within 24 months and is expected to generate approximately 1,300 Mn units (MUs) of electricity annually. The project will mitigate over 1 Mn tonnes of carbon dioxide emissions per year. It was secured by TPREL through competitive bidding and will consist of solar, wind, and BESS (battery energy storage system) technologies.

A key feature of this initiative is the commitment to a 4-hour peak power supply, ensuring at least 90% availability during peak demand hours to support the growing energy needs of distribution companies.

TATA MOTORS AND TATA POWER RENEWABLE ENERGY PARTNER TO DEVELOP 131 MW WIND-SOLAR HYBRID PROJECT

Tata Motors and Tata Power Renewable Energy Limited (TPREL) have signed a landmark Power Purchase Agreement (PPA) to co-develop a 131 MW wind-solar hybrid renewable energy project.

Set to generate approximately 300 Mn units of clean electricity annually, the project is expected to offset over 2 lakh tons of CO₂ emissions each year. This integrated wind-solar hybrid solution will provide a reliable supply of green, cost-effective energy exclusively to Tata Motors’ six manufacturing facilities in Maharashtra and Gujarat, supporting the production of both commercial and passenger vehicles.

This initiative significantly advances Tata Motors’ clean energy transition, helping to achieve its RE-100 commitment ahead of the 2030 target. It also marks a major milestone in the company’s sustainability roadmap, aligning with its broader ambition to achieve net-zero emissions and lead the shift towards environmentally responsible manufacturing.

NTPC GREEN ENERGY, MAHAPREIT TO JOINTLY DEVELOP SOLAR AND HYBRID POWER PROJECTS

NTPC Green Energy Ltd (NGEL) and Mahatma Phule Renewable Energy and Infrastructure Technology Ltd (MAHAPREIT) have formed NTPC-MAHAPREIT Green Energy Ltd as a joint venture to develop renewable energy parks in India.

NTPC-MAHAPREIT Green Energy Ltd will be engaged in the business of developing, operating and maintaining renewable energy parks including Ultra Mega Renewable Energy Power Parks/RE projects comprising solar/wind/hybrid with or without storage up to 10 GW capacities in Maharashtra and any other state in India, which holds 74% shareholding in NTPC-MAHAPREIT Green Energy with the rest 26% owned by MAHAPREIT .

BHEL HITACHI ENERGY CONSORTIUM BAGS CONTRACT FOR 6-GW RENEWABLE ENERGY TRANSMISSION PROJECT

A consortium comprising Hitachi Energy India and state-owned BHEL has secured a contract to set up a 6,000 MW, 950-km high-voltage direct current (HVDC) link to transmit renewable energy from Bhadla in Rajasthan to the industrial and transport hub in Fatehpur, Uttar Pradesh. The value of the order has not been disclosed.

Expected to be established by 2029, this HVDC link will significantly support the national mission to achieve 500 GW of power from renewable energy sources by 2030. The 6,000 MW, 950-km HVDC link is estimated to power approximately 60 Mn households in India. The consortium has signed a contract with Rajasthan Part I Power Transmission Ltd, a subsidiary of Adani Energy Solutions Ltd (AESL), to design and execute the 6,000 MW, ±800 kV, bi-pole and bi-directional HVDC terminals for the transmission of renewable energy from Bhadla to Fatehpur.

This is the fourth Ultra High Voltage Direct Current (UHVDC) transmission project contract awarded to BHEL. The company has previously executed the North-East Agra ±800 kV, 6,000 MW Multi Terminal HVDC link and the ±800 kV, 6,000 MW Raigarh-Pugalur HVDC link, and is currently executing the ±800 kV, 6,000 MW Khavda-Nagpur HVDC link jointly with Hitachi Energy India.

For the current project, BHEL will supply converter transformers, shunt reactors, filter bank capacitors, MV switchgear, and instrument transformers from its Bhopal Plant. Thyristor Valves will be sourced from its electronics division in Bengaluru. The Transmission Business Group will design, supply, and install the mega-size 765 kV/400 kV power evacuation system at the Fatehpur terminal, along with a 400 kV AC sub-station at Bhadla and Bhadla Extension.

MAY 2025

SAEL COMMITS USD 600 MN FOR SOLAR CELL PLANT IN UTTAR PRADESH TO BOOST DOMESTIC MANUFACTURING

SAEL Industries Limited has announced an investment of approximately INR 5,000 Cr (USD 600 Mn) to establish a 5 GW solar cell manufacturing facility in Greater Noida, Uttar Pradesh. This marks the company’s foray into solar cell production, strengthening its role in India’s renewable energy manufacturing ecosystem.

The upcoming facility will complement SAEL’s existing solar module manufacturing plants in Rajasthan and Punjab. The company is also assessing the potential for expanding into wafer and ingot production, depending on market demand and government incentives.

This initiative aligns with India’s Approved List of Models and Manufacturers (ALMM) policy, effective from June 2026, which mandates the use of domestically produced solar cells in all government-supported solar projects. The policy is designed to encourage local manufacturing and reduce import dependence. To support its expansion, SAEL is preparing for an initial public offering (IPO) within the next 12 months. It is also exploring alternative funding avenues such as private equity and private placements.

The investment contributes to Uttar Pradesh’s target of achieving 500 GW of solar power capacity by 2030. The state is actively promoting renewable energy development, especially in regions like Bundelkhand and Vindhya, identified as emerging solar hubs. The Greater Noida facility is expected to play a critical role in meeting India’s growing demand for solar energy components, supporting the country’s broader energy security and sustainability objectives.

RENEW TO INVEST USD 2.5 BN TO SET UP ONE OF INDIA’S LARGEST HYBRID RE PROJECTS IN ANDHRA PRADESH

ReNew Energy Global Plc, a leading decarbonisation solutions company, has announced an investment of approximately INR 22,000 Cr (USD 2.5 Bn) to develop one of India’s largest hybrid renewable energy projects in Anantapur district, Andhra Pradesh. The project will have a total generation capacity of 2.8 GW, comprising 1.8 GWp of solar, 1 GW of wind, and a 2 GWh battery energy storage system (BESS).

In the first phase, the company will commission 587 MWp of solar and 250 MW of wind energy capacity along with a 415 MWh BESS. Power purchase agreements (PPAs) have already been signed for this initial phase. The remaining capacity will be developed in subsequent phases.

The integrated BESS will enable the supply of power during 4 peak hours each day, addressing non-renewable generating hours and aiding in peak demand management. This will enhance the dispatchability and reliability of renewable energy for off-takers. The project supports the Make in India initiative by using 100% domestically manufactured solar panels from ReNew’s facilities in Jaipur (Rajasthan) and Dholera (Gujarat). It will also feature advanced solar tracking systems and waterless robotic panel cleaning technology, contributing to higher efficiency and water conservation.

This project aligns with Andhra Pradesh’s Integrated Clean Energy Policy and supports India’s national goal of achieving 500 GW of non-fossil fuel electricity generation capacity by 2030. ReNew currently operates 717 MW of wind and 60 MW of solar assets across 10 sites in Andhra Pradesh.

POWER GRID GREENLIGHTS USD 25.6 MN FOR 3 TRANSMISSION PROJECTS

The Power Grid Corporation of India (PGCIL) has approved a total investment of INR 964.44 Cr (USD 116 Mn) for three major transmission projects aimed at strengthening India’s electricity infrastructure and accelerating the integration of renewable energy sources.

1.       Transmission Upgrade in Rajasthan (Bhadla/Bikaner Complex)

• Investment: INR 212.81 Cr (USD 25.6 Mn)

• Objective: To upgrade transmission systems for efficient evacuation of solar power from the Bhadla/Bikaner complex, a key renewable energy hub

• Completion Timeline: Within 18 months from allocation, by June 9, 2026

2.       Eastern Region Expansion Scheme-43 (ERES-43)

•         Investment: INR 342.69 Cr (USD 41.2 Mn)

•         Objective: To strengthen transmission infrastructure in Eastern India

•         Completion Timeline: By March 1, 2026

3.       Eastern Region Expansion Scheme-44 (ERES-44)

•         Investment: INR 408.94 Cr (USD 49.2 Mn)

•         Objective: Further expansion of the transmission network in Eastern India

•         Completion Timeline: By May 24, 2026

These projects are part of India’s strategic push to enhance grid capacity and reliability, minimize curtailment of renewable power, and ensure stable and cost-effective electricity delivery across regions. They align with national goals to increase clean energy penetration while supporting regional power distribution and load balancing.

COAL INDIA TO INVEST USD 3 BN TO AUGMENT RENEWABLE ENERGY CAPACITY

Coal India Ltd (CIL), as part of its energy transition strategy, has signed a memorandum of understanding (MoU) to supply 4,500 MW of renewable energy to AM Green’s green ammonia facilities. This is one of the largest renewable energy contracts globally.

Under the MoU, CIL will invest approximately INR 25,000 Cr (USD 3 Bn) to develop 2,500–3,000 MW of solar and 1,500–2,000 MW of wind energy. Wind projects will be located in southern India, while solar plants will be developed in sunny states like Gujarat and Rajasthan.

The renewable energy supplied will be integrated with pumped hydro storage to provide a stable, round-the-clock power supply to AM Green's facilities. AM Green targets 5 Mn tonnes per annum (MTPA) of green ammonia production by 2030 — equivalent to 1 MTPA of green hydrogen, contributing significantly to India’s National Green Hydrogen Mission.

AM Green’s broader vision includes producing sustainable aviation fuel, green hydrogen, green ammonia, green chemicals, and biofuels through its subsidiaries. Its minerals division, AMG Metals & Minerals, is collaborating with Rio Tinto to set up the world’s largest renewable-powered aluminum facility in India at a planned investment of USD 6 Bn.

NORTHEAST REGION'S FIRST GEOTHERMAL PRODUCTION WELL DRILLED IN ARUNACHAL PRADESH'S DIRANG

India has successfully drilled its first geothermal production well in Dirang, Arunachal Pradesh, marking a milestone in renewable energy development in the Northeast. Led by the Centre for Earth Sciences and Himalayan Studies (CESHS), the project aims to make Dirang the country’s first geothermal- powered town.

Supported by the Arunachal Pradesh government and Ministry of Earth Sciences, the well taps into a geothermal reservoir with estimated temperatures of around 115°C, suitable for applications like space heating and agricultural drying. Geological surveys identified the site as ideal for clean energy, and the drilling was executed with minimal environmental impact. The project also involves international collaboration with partners from Norway and Iceland.

India has the potential to generate about 10,600 MW of geothermal energy, offering a reliable, around-the-clock renewable power source. The government has mapped 381 geothermal sites nationwide and is pursuing additional pilot projects in Telangana, Ladakh, and Gujarat.

TELANGANA CLINCHES CLEAN ENERGY PROJECTS WORTH USD 3.49 BN UNDER NEW POLICY

Telangana has attracted green energy investments totaling INR 29,000 Cr (USD 3.49 Bn) from Ecoren Energy India Private Ltd and GPSR Arya Pvt Ltd under the newly launched Telangana Clean and Green Energy Policy 2025.

Ecoren Energy is investing INR 27,000 Cr (USD 193 Mn) in State Goods and Services Tax (SGST) revenues.

Key projects include:

• A 3,279 MW wind-solar hybrid project across three locations in Sangareddy and Narayanpet districts.

• A 1,650 MWp floating solar project at seven locations in Jayashankar Bhupalpally district.

• A 650 MWp ground-mounted solar project in Jogulamba Gadwal district.

GPSR Arya is investing INR 2,000 Cr (USD 241 Mn) to develop 15 compressed biogas (CBG) projects, each with a capacity of 15 tonnes per day. These will be executed through joint ventures with public sector oil marketing companies such as Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Ltd (BPCL).

The CBG will support city gas distribution (CGD) networks in various districts:

• IOC-led JV will serve areas including Medak, Sangareddy, Siddipet, Karimnagar, Peddapalli, Rajanna Sircilla, and Jagtial.

• Megha Gas will be the CGD provider for projects in Khammam, Suryapet, Nalgonda, Yadadri, Wanaparthy, and Mahabubnagar.

• BPCL-led JV will supply biogas to Maharashtra Natural Gas Ltd for Kamareddy and Nizamabad districts.

These projects will utilize agro waste and Napier grass, with an annual consumption of approximately 750,000 metric tonnes of surplus paddy straw. The initiative is expected to create about 3,000 direct jobs and reduce greenhouse gas emissions by roughly 1.724 Mn metric tonnes annually. Memoranda of Understanding (MoUs) for the projects were signed with the Telangana Renewable Energy Development Corporation Ltd (TGREDCO).

SEMBCORP BAGS 150 MW RENEWABLE HYBRID PROJECT IN INDIA

Sembcorp Industries, through its wholly owned subsidiary Sembcorp Green Infra Private Limited (SGIPL), has secured a 150 MW solar power project integrated with a 300 MWh battery energy storage system (BESS) in India. The project will be developed on a build-own-operate (BOO) basis and is supported by a 25-year power purchase agreement (PPA). It will provide four hours of daily energy storage to help meet peak electricity demand. Commercial operations are expected within 24 months of the PPA signing.

The project was awarded through a competitive auction at a tariff of INR 3.32 per kWh (USD 0.040 per kWh). Funding will be arranged through a mix of internal accruals and debt. With this addition, Sembcorp’s renewable energy capacity in India has reached 6.3 GW, while its global renewable portfolio totals 17.7 GW, including projects pending acquisition.

CIEL & TERRE’S 120 MW OMKARESHWAR FLOATING SOLAR PROJECT COMPLETED

France-based floating solar solutions provider Ciel & Terre has completed a 120 MWp floating solar power plant at Omkareshwar Dam in Madhya Pradesh, India—its largest project in the country to date. Developed in collaboration with L&T and SJVN Green Energy Ltd, the project will supply electricity to Rewa Ultra Mega Solar Ltd (RUMSL).

The plant occupies 210 acres—about 20% of the 1,060-acre Omkareshwar reservoir—and is expected to offset over 113,406 tons of CO₂ emissions annually. The installation uses 407,699 Hydrelio aiR OPTIM 1400-3 model floats arranged in a three-row configuration. It comprises 14 floating islands, each with a capacity of 8.5 MWp.

To manage the site’s hard rock underwater surface, the project implemented a rock bolt anchoring system. A fiber-reinforced plastic (FRP) floating inverter barge was deployed, offering a high strength-to-weight ratio and the capacity to carry over 40 tons of electrical equipment. The FRP structure is suitable for inland water deployments and is both lighter and more cost-effective than steel. For durability, the floating system uses spin welding technology, which provides leak-proof joints and accommodates float expansion due to high temperatures, helping prevent cracks and water ingress.

JUNE 2025

ACME SOLAR TO SUPPLY 250 MW TO RAJASTHAN RE PROJECT

ACME Solar Holdings Ltd has signed a 25-year Power Purchase Agreement (PPA) with state-owned NHPC Ltd for supplying 250 MW of electricity from its Firm and Dispatchable Renewable Energy (FDRE) project in Rajasthan. The PPA was signed at a tariff of INR 4.56 per kWh (USD 0.055 per kWh), with a minimum annual Capacity Utilization Factor (CUF) of 40% and a requirement to meet 90% of peak demand for 4 hours daily.

The project will integrate solar, wind, and battery storage technologies to ensure firm and dispatchable power supply. It will be connected to the Inter-State Transmission System (ISTS), with grid connectivity already in place. The Central Electricity Regulatory Commission (CERC) approved the tariff under Section 63 of the Electricity Act, 2003, In June, 2025.

This agreement brings ACME Solar’s total PPA-signed capacity to 5,130 MW, out of which 2,826.2 MW is operational, and the rest is under development. Around 86% of the company's offtake agreements are with central government entities, and 14% with state distribution companies.

VGF SCHEME EXPANDS TO SUPPORT 30 GWH OF NEW STANDALONE BESS DEVELOPMENT IN INDIA

In a significant policy move to boost grid-scale energy storage, the Ministry of Power has approved an expanded Viability Gap Funding (VGF) scheme for 30 GWh of Battery Energy Storage Systems (BESS) as of June 2025. This builds upon the 2023 VGF scheme, which supported 13.2 GWh, and underscores growing momentum to scale up energy storage infrastructure in India.

Of the newly sanctioned 30 GWh capacity, 25 GWh has been allocated across 15 states, while 5 GWh is designated for NTPC. The INR 5,400 Cr (USD 650 Mn) scheme is expected to mobilize investments worth approximately INR 33,000 Cr (USD 4 Bn) and supports India’s near-term BESS capacity targets through 2028.

Top state allocations include Rajasthan, Gujarat, and Maharashtra, with 4,000 MWh each, followed by Karnataka and Andhra Pradesh with 1,500 MWh each.

The original 2023 VGF scheme had a budgetary provision of INR 3,760 Cr (USD 450 Mn) for 4 GWh, later scaled to 13.2 GWh due to declining battery prices. The VGF support amount, initially estimated at INR 96 lakh/MWh (USD 115,000/MWh), was reduced to INR 46 lakh/MWh (USD 55,000/MWh) or 30% of capital cost—whichever is lower. The 2025 scheme further lowers this to INR 18 lakh/MWh (USD 21,500/MWh), reflecting increased cost efficiency and better commercial viability.

Key Enhancements in the 2025 VGF Scheme:

• Accelerated timelines and longer contracts: Commissioning period reduced to 18 months (from 24 months), with contract tenures extended to 12–15 years, enabling quicker deployment and long-term stability of BESS assets.

• Front-loaded VGF disbursement: 70% of the total VGF is now released by the Commercial Operation Date (COD), improving early-stage project cash flow and enhancing investor confidence.

• Minimum storage duration requirement: A new mandate requires a minimum of 2 hours of storage capacity with a preferred 1.5 cycles/day, a provision not included in the earlier tranche.

The revised scheme is aimed at enabling reliable renewable energy integration into the grid. According to Central Electricity Authority (CEA) estimates, India needs 37 GWh of BESS capacity by 2027 and 236 GWh by 2031–32. With battery prices falling and policy measures evolving, the enhanced VGF scheme is set to play a pivotal role in accelerating the deployment of standalone BESS and supporting India’s clean energy transition.

HONEYWELL AND NTPC GREEN PLAN TO JOINTLY PROPEL INDIA’S SUSTAINABLE AVIATION FUEL AMBITIONS

Honeywell has signed a Memorandum of Understanding (MoU) with NTPC Green to explore the production of sustainable aviation fuel (SAF) in India using proprietary eFining™ technology. The project will utilize carbon dioxide (CO₂) captured from NTPC’s power plants along with green hydrogen as feedstock.

This collaboration aims to advance decarbonization efforts in the aviation sector and support India's energy security and environmental goals. SAF is viewed as a key enabler in reducing carbon emissions from aviation, and this initiative aligns with national targets for carbon neutrality and clean energy transitions.

The SAF production will form a core component of NTPC Green’s Green Hydrogen Hub in Pudimadaka, Andhra Pradesh. The anticipated government mandate for blending SAF into jet fuel is expected to catalyze early investments in green hydrogen-based projects.

The partnership combines Honeywell’s technological capabilities in SAF production with NTPC Green’s experience in green hydrogen development. The feasibility study is expected to conclude by mid-2025 and will lay the groundwork for India to become a hub for SAF production and exports, contributing to global emissions reduction efforts.

VEDANTA TARGETS 2.5 GW RENEWABLE ENERGY CAPACITY BY 2030

India-based Vedanta Group has increased its round-the-clock renewable energy capacity to 1.03 GW through power delivery agreements and is on track to achieve 2.5 GW by 2030. This development aligns with the company’s goal of achieving net zero emissions by 2050.

The renewable energy projects include a mix of wind, solar, and pumped storage technologies. The current capacity addition is expected to mitigate over 6 Mn tonnes of carbon emissions annually, equivalent to the carbon sequestration of approximately 350 Mn trees.

Vedanta is India’s largest producer of energy transition metals and critical minerals, with over 4.5 Mn tonnes of annual output across aluminium, zinc, lead, silver, copper, nickel, ferrochrome, and pig iron. These materials are vital for renewable energy infrastructure, electric vehicles, and advanced technologies. The company also offers a range of low-carbon products in aluminium and zinc to support clean energy goals.

Vedanta’s decarbonization strategy focuses on four levers: scaling up renewable energy, switching to low-carbon fuels, improving energy and process efficiency, and implementing carbon offset projects. The company currently has more than 350 high-impact environmental initiatives across its operations.

Environmental highlights include:

• Utilization of 2.61 Bn units of renewable energy

• Deployment of lithium-ion forklifts, LNG-powered trucks, and battery-operated vehicles in operations

• Usage of 44,000 tonnes of biomass and establishment of a major torrefied bio-pellets facility in Punjab

• Planting of nearly 3 Mn trees since 2021

• Water-positive status of three business units and plastic-free operations in others

SEMBCORP WINS FIRST FIRM POWER PROJECT IN INDIA

Sembcorp Industries, through its Indian subsidiary Sembcorp Green Infra, has secured a 50 MW round-the-clock (RTC) renewable energy project awarded by the Solar Energy Corporation of India (SECI). The project is part of SECI’s 1.2 GW tender for RTC power from Inter-State Transmission System (ISTS)-connected renewable energy projects. Under the build-own-operate (BOO) model, Sembcorp will deploy approximately 300 MW of installed capacity by integrating solar, wind, and battery energy storage systems (BESS) to reliably deliver the contracted 50 MW RTC power supply.

The project includes a 25-year power purchase agreement (PPA) with SECI and is expected to reach commercial operation within 24 months of the PPA signing. It will be financed through a combination of internal accruals and debt. Sembcorp Green Infra won the 50 MW capacity at a tariff of INR 5.07 per kWh (USD 0.0595 per kWh). With this award, Sembcorp’s total renewable energy capacity in India has risen to over 6.5 GW, while its global renewables portfolio now stands at 18.0 GW, including pending acquisitions.

---

 List of Key Transactions - Q1 2025

Source: YOG INFRA analysis

---

ABOUT YOG INFRA

Our objective is to drive economic growth and make positive social impact through sustainable infrastructure development. ​YOG INFRA is an infrastructure focused financial advisory firm. We work with Developers and Development Finance Institutions (DFIs) and help them make informed investment decisions across infrastructure development lifecycle. With our offices in Singapore, India and UAE we work on projects globally, and the team brings strong experience in supporting development of infrastructure projects.

For more information about us, our service offerings and team, please visit www.yoginfra.com Contact us at info@yoginfra.com ©2025 YOG INFRA. All rights reserved. #infrastructure #update #PPP #india