ReNew to acquire 528 MW renewable assets

ReNew Power has signed definitive agreements to acquire an operating wind and solar portfolio of 527.9 MW.

The portfolio comprises of 471.65 MW of wind and 56.25 MW of solar assets. The company has also signed a power purchase agreement (PPA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) for a 200 MW solar project. The total enterprise value of these agreements is around USD 388 million. The definitive agreements have PPAs with state distribution companies in Gujarat, Maharashtra, Madhya Pradesh, Karnataka, Rajasthan, Telangana, Kerala, and Tamil Nadu, and 25 MW of PPAs with corporate customers. For the MSEDCL PPA, ReNew will supply electricity at a tariff of Rs 2.43 per unit for 25 years from its asset in Rajasthan to MSEDCL, Maharashtra.