Indian renewable energy company ReNew Power has signed five solar power-purchase agreements (PPAs) with Solar Energy Corp. of India (SECI) and Punjab State Power Corp. Ltd. (PSPCL), as well as multiple long-term purchase agreements with corporate buyers totaling around 2 gigawatts.
This grows the company's gross total portfolio from 10.2 gigawatts at the beginning of the calendar year to 12.1 gigawatts.
The new utility solar projects will be located in the western state of Rajasthan and have flat tariffs for more than 25 years. Four solar PPAs have been signed with SECI, an entity owned by the government of India. The fifth PPA is with PSPCL. All the projects are expected to be commissioned by the fourth calendar quarter of 2023.
Corporate buyers have signed long-term agreements with ReNew for the purchase of clean energy or renewable energy credits for approximately 0.5 gigawatts.
“ReNew is at the vanguard of India's clean energy transition,” said Su
