ReNew Power to invest $1.2 bn for country’s 1st round-the-clock RE project
ReNew Power will invest close to $1.2 billion in development of a 1.3 Gw of hybrid renewable energy (RE) project, which will provide round-the-clock (RTC) renewable power supply, a first for the country. The company won the project in May 2020 in a tender issued by central agency Solar Energy Corporation of India (SECI) by quoting a tariff of Rs 2.9 per unit.
The company would set up the cumulative capacity at three locations – Karnataka, Maharashtra and Rajasthan. The hybrid capacity would include 0.9 Gw wind power, 0.4 Gw solar power along with corresponding battery storage. The company is expecting that the plant load factor (PLF) or the operating ratio of the hybrid power unit would be to the tune of 80 per cent.
