ReNew provides 2.2 GW of clean energy through five power purchase agreements

On Thursday, ReNew said it had signed five power purchase agreements to supply 2.2 gigawatts of clean energy.

It also received a letter of commendation for commissioning a 5.8-gigawatt renewable energy facility, the clean energy company said in a statement.

“ReNew announces the signing of five power purchase agreements with a total capacity of 2.2 GW of renewable energy, significantly expanding its portfolio of fully contracted renewable energy. ReNew’s total portfolio currently amounts to 15.6 GW,” it said.

Of the five PPAs, ReNew has signed three solar PPAs with a total capacity of 800 MW with NTPC Limited, Damodar Valley Corporation and Solar Energy Corporation of India Limited at an average rate of Rs 2.59 per kilowatt hour.

The company has signed another PPA with SJVN Limited for a 1 GW continuous and dispatchable renewable energy project at a rate of Rs 4.39 per kWh.

Apart from this, it has also signed a PPA to supply 438 MW of power to an international commercial and industrial customer.

These PPAs cover the implementation of projects with a capacity of 1,500 MW in photovoltaic installations and 688 MW in wind farms, and their commissioning is expected to take place within the next 24 months, the company said.

“This reflects our commitment to India’s renewable energy goals and strengthens our position as a leading green energy provider. Featuring a strong counterparty profile, these agreements will not only contribute to a cleaner future but will also provide long-term financial benefits for ReNew and its shareholders,” said ReNew Founder, Chairman and CEO Sumant Sinha.

Gurugram-based ReNew has a 21 GW portfolio that includes solar, wind and hydropower.