ReNew inks 5 PPAs to add 2.2 GW to its renewable energy portfolio

The deals will involve the construction of 1,500 MW of solar and 688 MW of wind projects.

India’s ReNew signed five power purchase agreements (PPA) to expand its fully contracted renewable energy portfolio by around 2.2 gigawatts (GW), bringing its overall capacity to 15.6 GW.

In a statement, ReNew said three of the five deals were solar PPAs with NTPC, Limited, Damodar Valle Corporation, and the Solar Energy Corporation of India with a total capacity of 800 megawatts (MW) at a weighted average tariff of $0.031 (INR2.59) per kilowatt-hour (kWh).

A PPA was also signed with SJVN for around 1 GW firm and dispatchable renewable energy at a tariff of $0.053 (INR4.39) per kWh. Another 438 MW PPA was signed with a large multinational commercial and industrial customer.

ALSO READ: Fortum divests remaining stake in Indian solar assets

‘"This achievement reflects our unwavering commitment to India's renewable energy goals and strengthens our position as a leading green energy provider. These agreements, with a strong counterparty profile, will not only contribute to a cleaner future but also deliver long-term financial benefits for ReNew and its shareholders,” said ReNew Fourder, Chairman, and CEO Sumant Sinha.

The company added that the PPAs will involve the development of 1,500 MW of solar and 688 MW of wind projects that will start operations in the next 24 months.

ReNew also received letter of awards for an additional renewable capacity of around 5.8 GW.

$1 =INR83.49

Also Read

JCM Power-led consortium to build Pakistan’s first utility-scale wind-solar plant

Avaada to boost RE load to meet demand from India’s data centres

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit