Prozeal has signed a Framework Agreement with a European IPP

Prozeal Green Energy, an Independent Power Producer (IPP) and Engineering, Procurement and Construction (EPC) service provider, has signed a Framework Agreement with a European IPP, an independent multi-energy group, for the proposed divestment of a 100 MW (AC) solar project in Gujarat, valued at approximately ₹4,600 million (₹460 crore). The agreement reflects Prozeal’s commitment to supporting India’s renewable energy transition and expanding international collaborations. The company currently has an ongoing portfolio of 500 MW as an Independent Power Producer, with commissioning scheduled by March 2027.

The proposed transaction remains subject to compliance with the terms and conditions of the agreement and the execution of the definitive transaction agreements and would be completed once the project reaches commercial operation. Prozeal Green Energy is expected to provide EPC services and manage long-term Operations and Maintenance (O&M). The project is currently scheduled to become operational in 2027.

Prozeal’s responsibilities leverage its technical experience, having executed RE projects across 22 Indian states, with a portfolio comprising solar, wind-solar hybrid, with BESS and Green Hydrogen Ammonia and other derivatives. The European IPP is a multi-energy group based in France, operates throughout the renewable energy value chain and is expanding its investment and presence in India’s solar sector through this acquisition

Manan Thakkar, Co-Founder and Managing Director at Prozeal Green Energy, commented, “The signing of this agreement is an important step for Prozeal, reflecting our strategy of developing high-quality renewable energy projects with international partners. The European IPP partner’s reach and financial capacity will help us develop further as an Independent Power Producer. There is growing demand in the Indian commercial and industrial sector for renewable energy solutions, and this partnership is structured to address those requirements. We look forward to progressing the project and the proposed transaction through the next contractual and operational milestones.”

The European IPP partner, said, “Prozeal Green Energy’s operational record and connections with major industrial players in sectors such as steel, chemicals, and pharmaceuticals form the basis of this partnership. This transaction increases our activities in India and supports our aim to deliver energy solutions.”

This transaction reflects continued investment in India’s renewable energy sector and the growing role of international partnerships in supporting the country’s transition ongoing growth in India’s renewable energy segment. By combining European IPP partner’s portfolio with Prozeal’s operational knowledge, both companies intend to strengthen grid stability and support India’s transition to a low-carbon energy system.

Prozeal Green Energy Limited, a prominent entity in the country’s Engineering, Procurement, and Construction (EPC) sector and an Independent Power Producer (IPP), began in 2013 with a strong commitment to delivering clean, reliable, and future-oriented energy solutions. The company evolved into a 360° renewable energy solutions provider, offering ability in Solar, Wind, Solar-Wind Hybrid, Battery Energy Storage Systems (BESS), Green Hydrogen, and Ammonia.