ReNew Power to buy 260 MW operational solar in Telangana
POWER & RENEWABLE ENERGY

ReNew Power to buy 260 MW operational solar in Telangana

Gurugram-based ReNew Power Limited announced that it has signed a definitive purchase agreement (DPA) to acquire 260 megawatts (MW) of operational solar projects in Telangana.

In addition, the company also inked an agreement to acquire a 99 MW hydropower project situated in Uttarakhand.

The company acquired solar and hydropower projects for Rs 28.5 billion with a total capacity of 359 MW. The projects are anticipated to generate earnings before interest, taxes, depreciation, and amortisation (EBITDA) of about Rs 3.8 billion to Rs 4 billion yearly.

The company said the solar projects have been working for about four years and have power purchase agreements (PPA) of 25-year with Northern Power Distribution Company of Telangana Limited (TSNPDCL) and Southern Power Distribution Company of Telangana Limited (TSSPDCL).

The company told the media that the acquired projects are located near to the existing solar projects of the company in Telangana that would give opportunities to raise productivity, reduce operation and maintenance expenses.

The company would also utilise its monitoring and analytical technology to increase the output of these projects.

ReNew Power also acquired L&T Uttaranchal hydropower from L&T power development, a subsidiary of Larsen & Toubro Limited (L&T).

L&T Uttaranchal Hydropower owns the Singoli Bhatwari hydroelectric project of 99 MW. In December 2020, the project became operational and is expected to have a remaining life of about 35 years. The hydropower project is expected to have a net billed generation of 360 million units yearly.

Earlier this month, the independent power producer inked a PPA with Solar Energy Corporation of India Limited (SECI) to provide 400 MW of round-the-clock (RTC) renewable power. The 25 year PPA has a tariff of Rs 2.90 kWh for the first year.

Image Source


Also read: ReNew Power signs PPA for 400 MW power supply

Gurugram-based ReNew Power Limited announced that it has signed a definitive purchase agreement (DPA) to acquire 260 megawatts (MW) of operational solar projects in Telangana. In addition, the company also inked an agreement to acquire a 99 MW hydropower project situated in Uttarakhand. The company acquired solar and hydropower projects for Rs 28.5 billion with a total capacity of 359 MW. The projects are anticipated to generate earnings before interest, taxes, depreciation, and amortisation (EBITDA) of about Rs 3.8 billion to Rs 4 billion yearly. The company said the solar projects have been working for about four years and have power purchase agreements (PPA) of 25-year with Northern Power Distribution Company of Telangana Limited (TSNPDCL) and Southern Power Distribution Company of Telangana Limited (TSSPDCL). The company told the media that the acquired projects are located near to the existing solar projects of the company in Telangana that would give opportunities to raise productivity, reduce operation and maintenance expenses. The company would also utilise its monitoring and analytical technology to increase the output of these projects. ReNew Power also acquired L&T Uttaranchal hydropower from L&T power development, a subsidiary of Larsen & Toubro Limited (L&T). L&T Uttaranchal Hydropower owns the Singoli Bhatwari hydroelectric project of 99 MW. In December 2020, the project became operational and is expected to have a remaining life of about 35 years. The hydropower project is expected to have a net billed generation of 360 million units yearly. Earlier this month, the independent power producer inked a PPA with Solar Energy Corporation of India Limited (SECI) to provide 400 MW of round-the-clock (RTC) renewable power. The 25 year PPA has a tariff of Rs 2.90 kWh for the first year. Image Source Also read: ReNew Power signs PPA for 400 MW power supply

Next Story
Equipment

Godrej Material Handling Leads East India with 21% Market Share

The Material Handling business of Godrej & Boyce, a part of Godrej Enterprises Group, is powering industrial growth in Eastern India marking over 60 per cent Y-o-Y growth in the Jamshedpur region for FY25. Solidifying its market leadership, the business commands a dominant 21 per cent market share in the Eastern region, serving as a crucial enabler for the region’s manufacturing sector. At the Indomach Expo in Jamshedpur, the business is showcasing its next-generation forklift to meet evolving needs of Eastern India’s industrial corridor. Jamshedpur, Eastern India’s industrial po..

Next Story
Equipment

Mecbo America Launches Scorpion Concrete Crawler Boom

Mecbo America, a division of Blastcrete Equipment LLC, brings a new product to its lineup: the Scorpion Concrete Crawler Boom. The Scorpion provides contractors working in piling, drilling, tunnelling or commercial construction with a flexible arm for placing concrete where needed without disrupting the jobsite. It is an economical enhancement for contractors who have a concrete pump but need an effective way to deftly move material to spots that are difficult or unsafe to reach using other methods.“As concrete contractors grow and the scope of their work changes, many recognize the need for..

Next Story
Infrastructure Urban

REC Flags off Mobile Medical Units Funded in Punjab

REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, under its flagship CSR initiative Mobile Medical Units has committed Rs 42.9 million for the procurement and deployment of four Mobile Medical Units (MMUs) in 4 districts of Punjab. These units, handed over to the Indian Red Cross Society, Punjab, were flagged off by Hon’ble Governor Shri Gulab Chand Kataria Ji at Punjab Raj Bhawan.Serving as a lifeline for deprived communities, the MMUs will provide essential healthcare across four districts. REC Foundation continues to expand its CSR footprint, with various Mobil..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?