Zelestra, a multi-technology renewable energy producer, today announced that it has signed a long-term power purchase agreement (PPA) with Seshasayee Paper and Boards Ltd (SPB), a vertically integrated producer of pulp, power, paper, and paperboard in India. Under the agreement, Zelestra will supply 39 MW of hybrid solar-wind power to SPB’s manufacturing units in Erode and Tirunelveli districts of Tamil Nadu.
The power will be generated from Zelestra’s first co-located wind-solar hybrid project in India. The 150 MW project—owned, built, and operated by Zelestra—will supply renewable power to commercial and industrial (C&I) clients under the intra-state open access model. The project is expected to be commissioned by February–March 2026.
The 39 MW PPA will ensure the annual supply of 7.2 crore units of green electricity, reducing SPB’s CO₂ emissions by an estimated 57.6 MT annually—emissions currently associated with power sourced from the state grid.
“Tamil Nadu has consistently led India’s renewable energy transition, and our team’s experience delivering over 1 GW of projects in the state makes it the ideal location for our first C&I wind-solar hybrid project,” said Sajay K V, CEO of Zelestra India. “By combining complementary wind and solar technologies, we can deliver reliable power tailored to the energy needs of the manufacturing sector. This marks the initial phase of our C&I growth strategy, with plans to add 1 GW of capacity to our portfolio exclusively for commercial and industrial clients by 2026. With a 5 GW GNA-certified pipeline across seven states and strategically located resources, we’re positioned to offer tailored green energy solutions to meet the evolving needs of our industrial clients.”
Sri N. Gopalaratnam, Chairman of Seshasayee Paper and Boards Ltd, said, “Our company has always led in adopting cleaner, greener production technologies. More than 60% of the energy requirements of our Erode unit are already met through renewable sources. This partnership with Zelestra will further enhance our renewable energy mix, using both solar and wind to power all three of our units in Tamil Nadu.”
Raja Singarayar, Head of Commercial at Zelestra India, added, “Our team worked closely with SPB to understand their unique energy needs, enabling us to design a customized solar-wind hybrid solution that delivers both environmental and economic benefits.”
Zelestra has a global portfolio of 28 GW of carbon-free energy projects across 13 countries. It is a vertically integrated company that develops, commercializes, constructs, and operates large-scale renewable energy assets. Backed by EQT—one of the world’s largest fund managers, with over €262 billion in assets under management—Zelestra serves clients ranging from global leaders such as Meta, Shell, Daimler, and Tesla to a wide array of commercial and industrial businesses.
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