ReNew Power signs PPA for 400 MW power supply

10 Aug 2021 CW Team

This electricity will be provided to the New Delhi Municipal Corporation (NDMC), Dadra and Nagar Haveli, Daman and Diu, and will require 900 MW of wind energy and 400 MW of solar energy, as well as a battery storage system. This wind and solar capacity will be located in the states of Karnataka, Maharashtra, and Rajasthan.

This comes as ReNew Power prepares to merge with RMG Acquisition Corp, a Nasdaq-listed special purpose acquisition company (SPAC). RMG II is a company with an estimated market value of $8 billion.

In a related development, RMG II shareholders will vote on the proposed merger on August 16. ReNew Energy Global Plc, with an equity value of $4.4 billion, will be listed on the Nasdaq under the ticker symbol RNW.

Private investment in public equity (PIPE) deal worth $855 million is included in the $1.2 billion equity proceeds from the ReNew Power merger with RMG II.

BNP Paribas Energy Transition Fund, TT International Asset Management Ltd, TT Environmental Solutions Fund, Chamath Palihapitiya, Sylebra Capital and Zimmer Partners are among the PIPE investors.

As of December 31, last year, ReNew Power-operated 6.24 gigawatts (GW) of solar and wind power, with a total capacity of about 10 GW. It bought 1.1 GW of wind and solar power assets from Ostro Energy in 2018, making it one of the largest renewable energy acquisitions in India.

ReNew Power was one of the first companies to enter India's green economy. Goldman Sachs, Japan's JERA Co. and Canada Pension Plan Investment Board are among ReNew Power's current shareholders. Inc., the Abu Dhabi Investment Authority, the GEF SACEF India, and Sumant Sinha, chairman and managing director.

India is implementing the world's largest clean energy programme, with a goal of generating 175 GW of renewable energy capacity. According to the Central Electricity Authority, the country's power demand by 2030 will be 817 GW, with clean energy accounting for more than half of that.

Image Source

Also read: Tata Power to set up 3-circuit transmission tower at Mumbai metro site

Also read: Amazon, TotalEnergies inks PPA for supplying 474 MW renewable energy

ReNew Power is set to invest $1.2 billion to supply 400 megawatts (MW) of power and has signed a long-awaited power purchase agreement (PPA) with the state-run Solar Energy Corporation of India (SECI). This electricity will be provided to the New Delhi Municipal Corporation (NDMC), Dadra and Nagar Haveli, Daman and Diu, and will require 900 MW of wind energy and 400 MW of solar energy, as well as a battery storage system. This wind and solar capacity will be located in the states of Karnataka, Maharashtra, and Rajasthan. This comes as ReNew Power prepares to merge with RMG Acquisition Corp, a Nasdaq-listed special purpose acquisition company (SPAC). RMG II is a company with an estimated market value of $8 billion. In a related development, RMG II shareholders will vote on the proposed merger on August 16. ReNew Energy Global Plc, with an equity value of $4.4 billion, will be listed on the Nasdaq under the ticker symbol RNW. Private investment in public equity (PIPE) deal worth $855 million is included in the $1.2 billion equity proceeds from the ReNew Power merger with RMG II. BNP Paribas Energy Transition Fund, TT International Asset Management Ltd, TT Environmental Solutions Fund, Chamath Palihapitiya, Sylebra Capital and Zimmer Partners are among the PIPE investors. As of December 31, last year, ReNew Power-operated 6.24 gigawatts (GW) of solar and wind power, with a total capacity of about 10 GW. It bought 1.1 GW of wind and solar power assets from Ostro Energy in 2018, making it one of the largest renewable energy acquisitions in India. ReNew Power was one of the first companies to enter India's green economy. Goldman Sachs, Japan's JERA Co. and Canada Pension Plan Investment Board are among ReNew Power's current shareholders. Inc., the Abu Dhabi Investment Authority, the GEF SACEF India, and Sumant Sinha, chairman and managing director. India is implementing the world's largest clean energy programme, with a goal of generating 175 GW of renewable energy capacity. According to the Central Electricity Authority, the country's power demand by 2030 will be 817 GW, with clean energy accounting for more than half of that. Image Source Also read: Tata Power to set up 3-circuit transmission tower at Mumbai metro site Also read: Amazon, TotalEnergies inks PPA for supplying 474 MW renewable energy

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Real Estate

17 Dec 2025

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

Real Estate

17 Dec 2025

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..