ReNew Power has secured a tender for developing a 3 MW floating solar PV project in Visakhapatnam, Andhra Pradesh. The project will be set up at the Meghadrigedda reservoir. The bidding process for the project was conducted by the Greater Visakhapatnam Municipal Corporation (GVMC). The project will be financed by GVMC through a grant received from the Asian Development Bank under its Urban Climate Change Resilience Trust Fund. It is estimated to generate around 4.2 MUs of power annually, offsetting over 3,960 tonnes of carbon emissions every year.