ReNew Power ("ReNew", or "the Company"), India's leading renewable energy company today initiated the commissioning of 250 MW capacity of its Interstate Transmission System (ISTS) solar generation project, SECI-3. The project has a total generation capacity of 300 MW which was won by ReNew Power in tranche 3 of the competitive auction conducted by the Solar Energy Corporation of India (SECI). ReNew anticipates the remaining 50 MW capacity to be commissioned by the end of this month.
This solar project is in the Jaisalmer district of Rajasthan and has a 25-year Power Purchase Agreement (PPA) with SECI and will offer clean electricity to the state of Bihar at a rate of INR 2.55/kWh (~US$ 0.035). The project is also likely to provide direct employment to around 600 people.
In this project, ReNew will install monocrystalline modules with fixed tilt and string inverters which enhance the project efficiency. ReNew will also be using robotic module cleaning at this site to help conserve water in the desert state of Rajasthan.
Speaking about the commissioning, Founder, Chairman and CEO of ReNew Power, Mr. Sumant Sinha stated, "With this commissioning, ReNew Power continues to contribute significantly to India's growing renewable energy capacity in line with the country's ambitious targets of achieving a
capacity of 450 GW by 2030. This is the first project to be commissioned after ReNew started trading on NASDAQ (RNW) and is another step towards ReNew achieving close to 18 GW of installed renewable energy capacity by 2025. I am delighted that our teams were able to commission this project within the budget as well as within the stipulated time despite COVID related challenges."
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