ReNew signs 5 PPAs for 2.2 GW of clean energy supply

New Delhi: ReNew on Thursday said it has signed five power purchase agreements to supply 2.2 Gigawatt of clean energy.

It has also received a letter of award to set up 5.8 gigawatt (GW) of renewable energy (RE) capacity, the clean energy firm said in a statement.

"ReNew announces the signing of five power purchase agreements (PPAs), totalling 2.2 GW of RE capacity, significantly expanding its fully contracted renewable energy portfolio. ReNew's overall portfolio now stands at 15.6 GW," it said.

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Of the five PPAs, ReNew signed three solar PPAs totalling 800 MW with NTPC Limited, Damodar Valley Corporation (DVC) and Solar Energy Corporation of India Limited (SECI) at an average tariff of Rs 2.59 per kilowatt hour (kWh).

The company signed another PPA with SJVN Limited for 1 GW Firm and Dispatchable Renewable Energy (FDRE) project at a Rs 4.39 per kWh tariff.

Besides, it also signed a PPA for a 438 MW power supply to a multinational commercial and industrial (C&I) customer.

These PPAs involve the development of 1,500 MW of solar and 688 MW of wind projects and are expected to be commissioned over 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. These agreements, with a strong counter-party profile, will not only contribute to a cleaner future but also deliver long-term financial benefits for ReNew and its shareholders," ReNew founder, Chairman and CEO Sumant Sinha said.

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

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