ReNew, a number one renewable power firm in India, introduced the signing of 5 energy buy agreements (PPAs) with a complete of ~2.2 GW of renewable power capability, particularly expands the totally contracted portfolio. ReNew’s whole portfolio now stands at 15.6 GW, consolidating its place as a significant participant in India’s inexperienced power transition. In addition, ReNew acquired a Letter of Awards for a further ~5.8 GW of RE capability.
Of the 5 PPAs, ReNew has signed three photo voltaic PPAs price 800 MW with NTPC Limited, Damodar Valley Corporation (DVC), and Solar Energy Corporation of India Limited (SECI) at a weighted common tariff of INR 2.59/kWh. Additionally, a ~1 GW Firm and Dispatchable Renewable Energy (DRE) PPA was signed with SJVN Limited, at a tariff of INR 4.39/kWh. These PPAs signed with central authorities utilities additional strengthen our counterparty profile. We additionally added 438 MW PPA with a number of multinational C&I clients.
These agreements present visibility and predictability of serious future progress in returns above threshold ranges. Together, these PPAs will contain the event of 1500 MW of photo voltaic and 688 MW of wind initiatives and are anticipated to be commissioned within the subsequent 24 months.
“We are happy to announce the signing of those PPAs,” stated Sumant Sinha, Founder, Chairman, and CEO, ReNew. “This achievement demonstrates our unwavering dedication to India’s renewable power objectives and strengthens our place as a number one inexperienced power supplier. These agreements, with a robust profile counterparty, is not going to solely contribute to a cleaner future but in addition present long-term monetary advantages for ReNew and its shareholders.”
The firm’s growth of its working capability comes as India targets to attain 500 GW of non-fossil gas power capability and cut back projected carbon emissions by 1 billion t by 2030. Founded in 2011 , ReNew performs a key position in Indian greening. financial system within the final decade. With an operational capability of ~9.5 GW, ReNew will yearly generate ~21 billion models of fresh electrical energy – sufficient to energy ~6 million houses and assist keep away from ~17 million tpy of carbon dioxide.
For extra information and technical articles from the worldwide renewable trade, learn the most recent concern of Energy Global journal.
The Spring 2024 concern of Energy Global
The Spring 2024 concern of Energy Global begins with a visitor commentary from Field on how battery storage websites can function a viable power discount resolution, earlier than shifting right into a regional report from in Théodore Reed-Martin, Editorial Assistant, Energy Global, seems to be on the state of renewables in Europe. This concern additionally hosts plenty of technical articles on energy infrastructure, turbine and blade monitoring, battery storage know-how, coatings, and extra.
Read the article on-line at: https://www.energyglobal.com/photo voltaic/10052024/renew-signs-five-renewable-ppas/
