Indian renewable energy company ReNew Power signed a power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) for the first round-the-clock (RTC) renewable power supply project in the country, according to a report from PV Tech on August 9. The project would have a minimum monthly capacity utilization factor of 70%, with an annual average of 80% expected. In order to meet the power supply requirements, ReNew Power planned to build 900 megawatts (MW) of wind farms and 400MW of solar farms across the states of Karnataka, Maharashtra, and Rajasthan, supported with battery storage systems and an investment of USD1.2bn. In addition, the company has won approvals for the project’s grid connection across the states.
Founded in 2011, ReNew Power now owns nearly 10-gigawatt (GW) renewable assets in India, including projects under construction and in plans. By October 2019, the firm’s installed renewable energy capacity reached 5GW, ranking first among Indian peers. Prior to the PPA with SECI, ReNew Power signed an agreement with RackBank Datacenters on August 4 to build and operate a 500MW jointly held hybrid power generation facility specifically to power RackBank’s data centers. The project’s first phase, with a 180MW capacity, would begin construction later this year. Two days after the partnership with RackBank, ReNew announced another collaboration with the Precourt Institute for Energy at Stanford University and its StorageX Initiative. They will work together to overcome problems in energy storage on the grid level, which is important for ReNew to deliver stable sustainable power in further development.
India is struggling for the goals of green energy it set. In 2016, the Indian government announced a target of achieving 175GW of renewable energy capacity by 2022, which would include 100GW of solar power, 60GW of wind power, 10GW of biomass energy, and 5GW of small hydropower. As of this April, India still had 80 GW to go. The country’s prime minister Narendra Modi was further considering raising the goal to 450GW of renewables by 2030 to accelerate emission reduction and realize the proposal of achieving net zero by 2050.