Independent renewable energy producer Juniper Green Energy‘s subsidiary, Juniper Green Sigma Eight, has signed a power purchase agreement (PPA) with TATA Power Company for a 70 MW firm and dispatchable renewable energy (FDRE) project.

Under this PPA, Juniper Green Energy will develop a renewable energy project in Maharashtra, comprising a mix of solar, wind, and battery energy storage systems (BESS). The project will have a renewable energy capacity of around 180 MWp and a BESS of around 280 MWh.

The supply of power from this project is scheduled to commence on September 22, 2027.

Juniper Green Energy was one of the winners in Tata Power Company’s auction to procure 250 MW of FDRE from projects integrated with energy storage systems on a build-own-operate basis. Juniper Green Energy secured 70 MW with a quoted tariff of ₹4.76 (~$0.0547)/kWh.

Juniper Green Energy had previously signed a PPA with NHPC in June 2025 for a 250 MW FDRE project to supply power to Haryana.

Earlier this year, Juniper Green Energy filed its draft red herring prospectus to raise over ₹30 billion (~$349 million) through an initial public offering (IPO) with the Securities and Exchange Board of India.

The IPO will consist of a fresh issue of equity shares with a face value of ₹10 (~$0.12) each with no offer-for-sale component. The company plans to utilize the funds towards the repayment of its debt, amounting to ₹ 10.92 billion (~$127 million), and ₹11.57 billion (~$135 million) for its subsidiaries.

Juniper’s IPO is expected to be launched in November 2025.

As of May 31, 2025, Juniper’s portfolio comprises five wind projects with a total capacity of 382 MW spread across Gujarat. The company’s solar portfolio includes 16 solar projects with a total capacity of 1,350 MW across three states in India.

Juniper’s hybrid portfolio consists of 17 projects with a total capacity of 3,927 MW under construction. The company’s FDRE portfolio consists of eight projects with a total capacity of 4,410 MW under construction. Juniper’s under-construction FDRE projects also entail the planned installation of 2,685 MWh of BESS capacity.