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
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?