+
ReNew signs five PPAs to supply 1,500 MW power from solar plants
POWER & RENEWABLE ENERGY

ReNew signs five PPAs to supply 1,500 MW power from solar plants

ReNew Power told the media that it had signed five Power Purchase Agreements (PPAs) for supplying around 1,500 MW of electricity generated from solar plants.

It has signed PPAs with Solar Energy Corporation of India (SECI), Punjab State Power Corporation Limited (PSPCL), and multiple long-term PPAs with corporate buyers of around 2 GW.

The company's gross total portfolio increased to 12.1 GW from 10.2 GW at the beginning of this calendar year (CY).

The new solar power projects will be located in the western state of Rajasthan with tariffs over 25 years.

Overall, four solar PPAs have been signed with SECI, of which two PPAs of 600 MW and 375 MW are under the SECI Rajasthan IV scheme, where ReNew Power will supply electricity at Rs 2.18 per KWh. The other two PPAs with SECI for 300 MW and 100 MW are under the SECI IX scheme at Rs 2.37 per KWh.

The company had recently acquired a beneficial interest in the 300 MW from SECI IX and 375 MW from SECI Rajasthan IV projects.

PSPCL has a PPA of 100 MW, and ReNew will supply electricity at Rs 2.33 per KWh. All the projects will be commissioned by the fourth calendar quarter of 2023.

The corporate buyers have signed long-term PPAs with ReNew for purchasing clean energy or renewable energy credits for around 0.5 GW at Rs 3.06-3.95 per KWh.

ReNew Power has a corporate portfolio of over 900 MW, making it one of the largest renewable energy solutions providers to corporate buyers.

CEO and Chairman of ReNew Power, Sumant Sinha, said that the addition of 1.9 GW above threshold returns is a testament to the company's competitive advantages.

The company also announced an investment by Mitsui and Co Limited in its 1.3 GW round-the-clock renewable energy project and a joint venture (JV) agreement with Indian Oil Corporation Limited (IOCL) and Larsen and Toubro (L&T) for developing green hydrogen capacity in India.

Image Source

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

ReNew Power told the media that it had signed five Power Purchase Agreements (PPAs) for supplying around 1,500 MW of electricity generated from solar plants. It has signed PPAs with Solar Energy Corporation of India (SECI), Punjab State Power Corporation Limited (PSPCL), and multiple long-term PPAs with corporate buyers of around 2 GW. The company's gross total portfolio increased to 12.1 GW from 10.2 GW at the beginning of this calendar year (CY). The new solar power projects will be located in the western state of Rajasthan with tariffs over 25 years. Overall, four solar PPAs have been signed with SECI, of which two PPAs of 600 MW and 375 MW are under the SECI Rajasthan IV scheme, where ReNew Power will supply electricity at Rs 2.18 per KWh. The other two PPAs with SECI for 300 MW and 100 MW are under the SECI IX scheme at Rs 2.37 per KWh. The company had recently acquired a beneficial interest in the 300 MW from SECI IX and 375 MW from SECI Rajasthan IV projects. PSPCL has a PPA of 100 MW, and ReNew will supply electricity at Rs 2.33 per KWh. All the projects will be commissioned by the fourth calendar quarter of 2023. The corporate buyers have signed long-term PPAs with ReNew for purchasing clean energy or renewable energy credits for around 0.5 GW at Rs 3.06-3.95 per KWh. ReNew Power has a corporate portfolio of over 900 MW, making it one of the largest renewable energy solutions providers to corporate buyers. CEO and Chairman of ReNew Power, Sumant Sinha, said that the addition of 1.9 GW above threshold returns is a testament to the company's competitive advantages. The company also announced an investment by Mitsui and Co Limited in its 1.3 GW round-the-clock renewable energy project and a joint venture (JV) agreement with Indian Oil Corporation Limited (IOCL) and Larsen and Toubro (L&T) for developing green hydrogen capacity in India. Image Source Also read: ReNew Power signs PPA for 400 MW power supply

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?