Renew Power has signed a power purchase agreement (PPA) with theSolar Energy Corporation of India Limited (SECI)for400 MW round-the-clock (RTC) electricity supply. …
ReNew Power anticipates the 400 MW RTC project will require 900 MW of wind capacity, 400 MW of solar capacity, which will be supplemented by battery storage, for a project cost of $ 1.2 billion. The project will be set up across Karnataka, Maharashtra and Rajasthan. ReNewPower had won the bid to supply RTC powerin May 2020 in a tender issued by the SECI quoting a tariff of Rs 2.90 per unit for the first year. The tender provides for a 3 per cent tariff escalation annually for 15 years and then stabilisation of tariff for the remaining 10 years of the 25-year contract.