ReNew has signed five power purchase agreements (PPA) totaling to 2.2 GW of renewable energy capacity, significantly expanding its fully contracted renewable energy portfolio.
In addition, ReNew has received letter of awards for an additional 5.8 GW of renewable energy capacity. Of the five PPAs, ReNew signed three solar PPAs totaling 800 MW with NTPC Limited, Damodar Valley Corporation, and Solar Energy Corporation of India Limited at a weighted average tariff of Rs 2.59 per kWh. In addition, a 1 GW firm and dispatchable renewable energy PPA was signed with SJVN Limited, at a tariff of Rs 4.39 per kWh. These agreements provide visibility and predictability of significant future growth at returns above the threshold levels. Combined, these PPAs will involve development of 1,500 MW of solar and 688 MW of wind projects and are expected to be commissioned over the next 24 months. ReNew’s overall portfolio now stands at 15.6 GW.
