Indian developer ReNew Power has announced the commissioning of 250 MW solar power generation capacity in the Indian State of Rajasthan. The capacity is part of a 300 MW Interstate Transmission System (ISTS) connected PV project won by ReNew Power in tranche 3 of the competitive auction conducted by the Solar Energy Corporation of India (SECI).
ReNew Power expects the remaining 50 MW capacity to be commissioned by the end of this month.
The solar project is located in the Jaisalmer district of Rajasthan and benefits from a 25-year power purchase agreement (PPA) with SECI. It shall supply clean electricity to the state of Bihar at a tariff of INR 2.55/kWh (US$ 0.035). The project is also expected to provide direct employment to around 600 people.
For the project, Renew Power has installed monocrystalline modules with fixed tilt and string inverters to enhance the project efficiency. ReNew will also be using robotic module cleaning at this site to help conserve water in the desert state of Rajasthan.
Speaking about the commissioning, founder, chairman and CEO of ReNew Power, Sumant Sinha said the Renew Power team was able to commission this project within the budget as well as within the stipulated time despite Covid-related challenges.
“With this commissioning, ReNew Power continues to contribute significantly to India’s growing renewable energy capacity in line with the country’s ambitious targets of achieving a capacity of 450 GW by 2030. This is the first project to be commissioned after ReNew started trading on NASDAQ (RNW) and is another step towards ReNew achieving close to 18 GW of installed renewable energy capacity by 2025,” he added.
ReNew is India’s leading renewable energy independent power producer (IPP) that develops, builds, owns, and operates utility-scale wind and solar energy projects and distributed solar energy projects. Its parent holding company ReNew Energy Global, listed on NASDAQ in August 2021, trades under the ticker “RNW”. As of August 31, 2021, ReNew Power has 10.2 GW of the project portfolio, comprising 5.8 GW of operational wind, solar and hydro energy projects in India and the rest under construction or in the pipeline.
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