ReNew, a NASDAQ-listed renewable energy company in India, has inaugurated a 400 MW solar project in Rajasthan, as part of a 600 MW power purchase agreement (PPA) signed with the Solar Energy Corp. of India Ltd (SECI) for the next 25 years. Power production from the remaining 200 MW will start by October.
The 600 MW solar power plant, spread over 2,000 acres of land and across multiple villages in the Pokran and Bhaniyana tehsils of Jaisalmer district, is expected to generate about 1,331 million units of electricity annually. It will supply electricity at a competitive PPA tariff of INR 2.18/kWh.
The project is connected at Jaisalmer-II (Bhensara) of Rajasthan Rajya Vidyut Prasaran Nigam Ltd (RVPNL) and is the largest solar project connected to RVPNL. SECI has executed a power sale agreement (PSA) with Rajasthan Urja Vikas Nigam Ltd (RUVNL) for the same duration.
Inaugurating the project, Rajasthan chief minister Bhajan Lal Sharma said, “The production of renewable energy from the 400 MW solar power plant in Jaisalmer today by ReNew is an important step towards making the state self-reliant…Adding renewable capacity will reduce the cost of power resulting in lower tariffs for consumers and also savings for the government. Through this plant, electricity will be supplied to Rajasthan discom at very cheap rates.”
Sumant Sinha, founder, chairman & CEO, ReNew, said, “We were able to complete this project in a record time, enough to power 300,000 households. Presently, 4,000 MW of ReNew’s gross 10 GW of operational capacity is situated in Rajasthan with investments of over INR 21,000 crore, including a 4 GW solar module manufacturing facility in Jaipur. We are fully committed to Rajasthan when it comes to expanding our portfolio upwards from 10 GW in the next few years.”
The project will help offset about 1.4 million tons of CO2 equivalent emissions per year, significantly contributing to environmental sustainability.
ReNew has a clean energy contracted portfolio of 15.6 GW on a gross basis as of May 31, 2024. In addition to being an independent power producer in India, it provides end-to-end solutions in the areas of clean energy, value-added energy offerings through digitalization, storage, and carbon markets that increasingly are integral to addressing climate change.
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