Ayana Renewable Power (Ayana), a Bengaluru-based renewable energy platform majority controlled by National Investment and Infrastructure Fund (NIIF), has partnered with Hyderabad-based Greenko Group to avail 6 GWh of pump-hydro storage capacity to supply firm power, including round-the-clock, to its customers. Greenko Group will offer the capacity from the pumped-hydro storage project it is developing in Andhra Pradesh.
“Greenko Group has offered in total 6 GWh of storage capacity including 1.5 GWh of storage capacity in the first tranche from its proprietary ‘off stream closed loop pumped storage project’ being developed at Pinnapuram in Andhra Pradesh,” the two companies said in a joint statement.
The partnership will allow Ayana to provide firm and dispatchable renewable energy solutions including round-the-clock power supply of up to 1 GW to industry and distribution companies in India.
Commenting on the cooperation, Mahesh Kolli, founder, president and joint managing director of Greenko, said: “This partnership between Ayana and Greenko is in line with the Ministry of Power and Ministry of New and Renewable Energy mission to create a standalone storage market in India. Such integrated renewable energy and storage projects, offering solutions superior to conventional energy sources in terms of dispatchability and round-the-clock supply, reflect the growing maturity of the renewable sector in India.”
Shivanand Nimbargi, managing director and CEO of Ayana Renewable Power, added: “This transaction marks the first time two independent power producers have joined hands to facilitate the decarbonization goals of industrial clients in India by developing storage infrastructure that will support India’s commitment to create 500 GW of RE capacity by 2030 and reducing emissions intensity of GDP by 45% by 2030.”
Greenko Group has an installed capacity base of 7.3 GW across solar, wind and hydro generation technologies spread over 100+ projects across 15 states and delivering 20+ billion units of renewable energy annually across the country constituting 1.5-2% of total India electricity needs. It has under construction 30 GWh of lowest-cost storage capacity as part of its plan in developing energy storage cloud platform of 100 GWh.
Ayana Renewable Power, founded in 2018 and headquartered in Bangalore, develops utility-scale solar, wind and hybrid renewable energy projects across India. It is currently involved in the development and management of more than 3.59 GW AC of solar, wind and hybrid power projects across several Indian states and has an operational capacity of 1.19 GW AC of renewable energy projects in Andhra Pradesh, Karnataka and Rajasthan.
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