ReNew Power has recently signed a power purchase agreement (PPA) for round-the-clock (RTC) electricity supply with the Solar Energy Corporation of India (Seci).
For supplying power from the 400 mega-watt (MW) RTC project at 80% utilisation rate, the company will need around 900 MW of wind capacity and 400 MW of solar capacity, supplemented by battery storage.
ReNew Power will set up this capacity through wind and solar farms across Karnataka, Maharashtra and Rajasthan, and the total project cost is estimated to be around $1.2 billion. Standalone solar and wind generation units usually operate at a lower capacity utilisation range of 20%-30%.
Gurgaon based ReNew Power is one of India’s leading renewable energy IPPs in terms of total energy generation capacity. Since commencing operations with a 25.2 MW wind project in Jasdan, Gujarat, the company has grown exponentially, and has a current renewable asset base of nearly 10 GW, including projects under development and in the pipeline. In October 2019, ReNew Power became the 1st RE company in India (and 11th globally) to cross 5 GW of installed capacity. In 10 years of its operation, ReNew projects have generated many jobs, directly and indirectly. In 2019-20 ReNew Power contributed nearly 1% of the total electricity generated in India and helped mitigate 0.5% of the carbon emitted in a year.