Indian developer signs PPA for 400 MW 24-hour energy supply – pv magazine International

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Of pv magazine india

india Renew power signed a Power Purchase Agreement (PPA) with Solar Energy Corp. of India (SECI) for 400 MW of electricity supply 24 hours a day (RTC).

The PPA is the first of its kind in India. Electricity will be supplied to New Delhi City Council and the utility Dadra and Nagar Haveli.

Last year, ReNew Power became the winner for providing 24-hour electricity at an auction conducted by state-owned SECI. It will provide electricity for the first year at a rate of INR 2.90 / kWh ($ 0.04). The tariff will increase by 3% per year for the first 15 years of the 25-year power supply agreement.

“The project will be designed to operate at an average annual plant load factor of 80% and will have a minimum capacity utilization factor of 70% per month, although it is a project of renewable energy, ”said ReNew Power.

The costs of the project have been estimated at around $ 1.2 billion.

ReNew Power will build wind and solar capacities in Karnataka, Maharashtra and Rajasthan. It has already obtained the approvals to connect the project sites to the network and has secured connectivity through the interstate transportation system.

As of March 31, 2021, ReNew Power had approximately 10 GW of wind and solar capacity across India, including projects commissioned and committed. It is backed by global investors such as Goldman Sachs, CPP Investments and Abu Dhabi Investment Authority.

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