Cleantech Solar Reaches Commercial Operation for Maiden VPPA

Cleantech Solar Reaches Commercial Operation for Maiden Virtual Power Purchase Agreement

Cleantech Solar, a firm the provides renewable energy solutions to corporations in India and Southeast Asia, has revealed that the commercial operation of its maiden Virtual Power Purchase Agreement (VPPA) has begun. This is among the first VPPA plants to be operational in India.

The power generated from the operating solar power plant in India, once it is dispossessed of its renewable attributes, will be purchased by the energy exchange. The project is registered under the International Renewable Energy Certificates (I-REC) mechanism. The I-RECs from the project will be bought by an FMCG firm under the Virtual Power Purchase Agreement.

The green energy generated for the lifetime of this project will be close to 187 GWh, thereby offsetting more than 171 kilotonnes of carbon emissions. The partnership will enable the FMCG firm to aid its  renewable energy ambitions while curbing carbon emissions without the need to add the solar project into its energy infrastructure.

CEO of Cleantech Solar, Sachin Jain, commented, “Virtual PPAs have the potential to significantly help corporates achieve 100% green power, thereby contributing towards their sustainability, RE100 and net zero goals. We are proud to execute one of the first operating VPPAs in India and look forward to helping more industries go 100% green, as well as supporting India’s energy transition.”

Singapore-headquartered Cleantech Solar is backed by Keppel Corporation, Keppel Asia Infrastructure Fund and Shell Singapore Pte. Ltd. The firm has about  1 GWp of assets in various stages with several projects in India, Singapore, Cambodia, Indonesia, Malaysia, Thailand and Vietnam.

Earlier, Cleantech Solar commissioned a 3.4 MWp rooftop solar PV system. The project was undertaken for the manufacturing unit of Japanese firm Konica Minolta Business Technologies (Malaysia) Sdn. Bhd. in Malacca, Malaysia.