– ReNew has signed five power purchase agreements totaling 2.2 GW of renewable energy capacity, expanding its portfolio to 15.6 GW in India.
– The PPAs include three solar agreements with central government utilities and a 1 GW Firm and Dispatchable Renewable Energy PPA with SJVN Limited.
– ReNew’s expansion comes as India aims to achieve 500 GW of non-fossil fuel energy capacity by 2030, with the company playing a significant role in greening the economy over the past decade.
ReNew, a top Indian renewable energy company, recently signed five power purchase agreements (PPAs) totaling around 2.2 GW of renewable energy capacity, expanding its fully contracted portfolio. With these new agreements, ReNew’s overall portfolio now stands at 15.6 GW, solidifying its position in India’s transition to green energy. The company also received Letter of Awards for an additional 5.8 GW of renewable energy capacity. The PPAs include solar and Firm and Dispatchable Renewable Energy (DRE) agreements with NTPC Limited, Damodar Valley Corporation, Solar Energy Corporation of India Limited, and SJVN Limited, among others. These agreements will involve the development of 1500 MW of solar and 688 MW of wind projects to be commissioned over the next 24 months.
Sumant Sinha, Founder, Chairman, and CEO of ReNew, expressed excitement over the signing of these PPAs, emphasizing the company’s commitment to India’s renewable energy goals and its role as a leading green energy provider. These agreements not only contribute to a cleaner future but also offer long-term financial benefits. ReNew’s expansion of its operating capacity aligns with India’s target to achieve 500 GW of non-fossil fuel energy capacity by 2030, significantly reducing carbon emissions. Established in 2011, ReNew has been integral in greening the Indian economy, generating clean electricity equivalent to powering 6 million households and avoiding 17 million tpy of carbon dioxide emissions annually.