Cleantech Solar has announced the operationality of its virtual power purchase agreement (VPPA) solar plant, the first in India. The project will generate green energy of 187 GW during its lifetime.
Sep 13, 2023
Cleantech Solar announced the beginning of commercial operation of its maiden virtual power purchase agreement (VPPA) plant, the first solar VPPA plant operational in India. The expected lifetime green energy generation of the project is about 187 GW, equating to offset over 171 kilo-tonnes of carbon emissions.
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Power from the plant in India is being sold to the energy exchange after being dispossessed of its renewable attributes. VPPAs work as a bilateral agreement between the IPP and the off-taker allowing the client to support renewable energy development while reducing carbon emissions without directly integrating the solar project into their physical energy infrastructure. They provide credibility to claimed environmental benefits by the procurer as the agreed energy would not have been generated in the absence of agreement.
The project is registered under the International Renewable Energy Certificates mechanism, and the renewable attributes from this project are being purchased by a leading FMCG company under a virtual PPA.
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Mr. Sachin Jain, CEO of Cleantech Solar, said, “VPPAs have the potential to significantly help corporates achieve 100 percent green power, thereby contributing towards their sustainability, RE100, and net zero goals.”
