India’s ReNew Power has signed a power-purchase agreement (PPA) with the government-owned Solar Energy Corporation of India (SECI), for round-the-clock (RTC) electricity supply, the first-of-its-kind in India.
In 2020, ReNew won the 25-year contract to supply RTC power through an auction conducted by SECI. Under this single project, 400 megawatts of renewable energy RTC capacity will result in the deployment of 1,300 megawatts of wind and solar capacity, and a large-scale battery storage system in the country, for an estimated project cost of $1.2 billion.
Shri J N Swain, managing director of SECI, said the PPA is a significant step forward to not only meet the 175-gigawatt renewable energy target of India but also usher in a dispatchable renewable energy regime in the electricity sector.
“With the signing of this PPA, ReNew Power and the Indian renewable energy sector has taken a historic step towards addressing intermittency of renewable power generation,â