+
ReNew Power to buy 260 MW operational solar in Telangana
POWER & RENEWABLE ENERGY

ReNew Power to buy 260 MW operational solar in Telangana

Gurugram-based ReNew Power Limited announced that it has signed a definitive purchase agreement (DPA) to acquire 260 megawatts (MW) of operational solar projects in Telangana.

In addition, the company also inked an agreement to acquire a 99 MW hydropower project situated in Uttarakhand.

The company acquired solar and hydropower projects for Rs 28.5 billion with a total capacity of 359 MW. The projects are anticipated to generate earnings before interest, taxes, depreciation, and amortisation (EBITDA) of about Rs 3.8 billion to Rs 4 billion yearly.

The company said the solar projects have been working for about four years and have power purchase agreements (PPA) of 25-year with Northern Power Distribution Company of Telangana Limited (TSNPDCL) and Southern Power Distribution Company of Telangana Limited (TSSPDCL).

The company told the media that the acquired projects are located near to the existing solar projects of the company in Telangana that would give opportunities to raise productivity, reduce operation and maintenance expenses.

The company would also utilise its monitoring and analytical technology to increase the output of these projects.

ReNew Power also acquired L&T Uttaranchal hydropower from L&T power development, a subsidiary of Larsen & Toubro Limited (L&T).

L&T Uttaranchal Hydropower owns the Singoli Bhatwari hydroelectric project of 99 MW. In December 2020, the project became operational and is expected to have a remaining life of about 35 years. The hydropower project is expected to have a net billed generation of 360 million units yearly.

Earlier this month, the independent power producer inked a PPA with Solar Energy Corporation of India Limited (SECI) to provide 400 MW of round-the-clock (RTC) renewable power. The 25 year PPA has a tariff of Rs 2.90 kWh for the first year.

Image Source


Also read: ReNew Power signs PPA for 400 MW power supply

Gurugram-based ReNew Power Limited announced that it has signed a definitive purchase agreement (DPA) to acquire 260 megawatts (MW) of operational solar projects in Telangana. In addition, the company also inked an agreement to acquire a 99 MW hydropower project situated in Uttarakhand. The company acquired solar and hydropower projects for Rs 28.5 billion with a total capacity of 359 MW. The projects are anticipated to generate earnings before interest, taxes, depreciation, and amortisation (EBITDA) of about Rs 3.8 billion to Rs 4 billion yearly. The company said the solar projects have been working for about four years and have power purchase agreements (PPA) of 25-year with Northern Power Distribution Company of Telangana Limited (TSNPDCL) and Southern Power Distribution Company of Telangana Limited (TSSPDCL). The company told the media that the acquired projects are located near to the existing solar projects of the company in Telangana that would give opportunities to raise productivity, reduce operation and maintenance expenses. The company would also utilise its monitoring and analytical technology to increase the output of these projects. ReNew Power also acquired L&T Uttaranchal hydropower from L&T power development, a subsidiary of Larsen & Toubro Limited (L&T). L&T Uttaranchal Hydropower owns the Singoli Bhatwari hydroelectric project of 99 MW. In December 2020, the project became operational and is expected to have a remaining life of about 35 years. The hydropower project is expected to have a net billed generation of 360 million units yearly. Earlier this month, the independent power producer inked a PPA with Solar Energy Corporation of India Limited (SECI) to provide 400 MW of round-the-clock (RTC) renewable power. The 25 year PPA has a tariff of Rs 2.90 kWh for the first year. Image Source Also read: ReNew Power signs PPA for 400 MW power supply

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?