ReNew Power, NASDAQ-listed Indian renewable energy company, has announced that it had set up Gujarat’s first wind-solar hybrid project at the Chlor-Alkali unit of Grasim Industries Limited in the Bharuch district.
The first phase of the hybrid project, with 17.6 MW commercial-scale wind-solar, commenced operations last week and is expected to generate 80 million units of renewable energy every year, mitigating 75,000 tCO2e (carbon emissions) annually. An additional 16.68 MW will be commissioned in the coming financial year (FY2022-23) as part of the second phase.
The project is being developed by ReNew Green Solutions (RGS), the B2B arm of ReNew Power.
ReNew will supply power for the Bharuch plant, via an Open Access mechanism, under a 25-year power purchase agreement with Grasim.
Once both phases are commissioned, the combined capacity of 34.28 MW is expected to generate a total of approximately 160 million units of renewable electricity annually, mitigating a cumulative 150,000 tCO2e (carbon emission) a year.
Both phases together have a total investment of INR 3.82 billion (US$51 million) through an equity partnership.
Speaking on the project, Mayank Bansal, Chief Commercial Officer, ReNew Power, said: “As India strives to achieve net-zero by 2070, large-scale adoption of renewables by corporate India is key. With corporates increasingly harnessing renewable energy, ReNew aims to develop around 250 MW of wind-solar hybrid projects in Gujarat for commercial and industrial consumers, as we have just done at Vilayat, Bharuch.”
Gujarat is one of the states that has aggressively supported the corporate adoption of clean energy. It notified its solar policy in 2009 and was the first state to announce a hybrid policy in 2018. It has made hybrid plants attractive for investments by corporates by providing incentives such as a waiver on electricity duty and creating an enabling environment for corporates to tie up with renewable energy players to meet captive power requirements.
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