ReNew Power indications PPA for 'India's first' round-the-clock renewable energy project

Aug 9, 2021 07:39 PM ET
  • Indian renewable energy firm ReNew Power has signed a power purchase arrangement (PPA) for a 400MW renewables project that will provide Round-The-Clock (RTC) electrical power supply, which the company claims is the first of its kind in India.
ReNew Power indications PPA for 'India's first' round-the-clock renewable energy project
Image: ReNew Power

The PPA is with the Solar Energy Corporation of India (SECI), a main government owned entity, and will certainly see ReNew Power supply electrical energy in the first year at 2.90/ kWh (US$ 0.039/ kWh). This will certainly raise by 3% a year for the first 15 years after which it will remain flat for the staying 10 years of the 25-year contract.

Developed to run at an 80% ordinary yearly plant tons variable (PLF), the project will certainly have a minimal capacity exercise of 70% a month. ReNew power expects the RTC project will certainly need 900MW of wind capacity and 400MW of solar ability, which is to be supplemented with a battery storage system. The entire project is anticipated to cost around US$ 1.2 billion.

Capability will be established with wind and solar farms in the Indian states of Karnataka, Maharashtra and Rajasthan, where ReNew has acquired the required authorizations to link the project sites with the grid and inter-state transmissions system.

ReNew Power chairman and CEO Sumant Sinha called the agreement "a historical action towards dealing with intermittency of sustainable power generation" in India, adding that he saw it as the "start of a new age in the renewable energy field".

" [U] nder this solitary project, 400MW renewable energy Round-The-Clock (RTC) capability will cause the release of 1,300 MW of wind and solar capability and a large-scale battery storage space system in the nation," stated Shri J N Swain, taking care of director of SECI.

PV Tech and sis website Energy-Storage. news have actually checked the rated output and capability of the battery storage and is awaiting an upgrade from Renew Power.

"With this project, acquiring energies would get round-the-clock power supply from renewables at an extremely inexpensive price while meeting their RPO targets," included Swain.

In April, an analysis by JNK Research stated India presented an "substantial possibility" for the development of solar and wind hybrid power systems, with more than 12.3 GW of colocated tenders released in the country by April.

ReNew Power, which has virtually 10GW of set up solar and wind capability in India, is developing a site in Gujarat for a new solar cell and component production facility that will have a yearly capability of 2GW.

India's Minister of Power and New and Renewable Energy (MNRE), Raj Kumar Singh, stated last month that the country wished to accelerate its renewable energy development through a combination of motivations to produce locally, while also criticising the "harmful" reliance on China for solar manufacturing.

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