India-based ReNew Power Ventures has announced another solar power project operational.
ReNew Power Ventures, in partnership with China-based manufacturer of Hareon Solar Technologies, has commissioned two utility-scale solar PV projects with combined installed capacity of 72 MW. The projects are located in the southern state of Andhra Pradesh. The projects will generate enough electricity to power more than 30,000 households and offset almost 116,000 tonnes of carbon dioxide emissions every year.
The projects were secured by ReNew Power through competitive bidding under the solar power policy announced by the government of Andhra Pradesh. The project was allocated to the company in 2015 at a tariff of Rs 5.98/kWh (US¢9.0/kWh) with a power purchase agreement for 25 years. Apart from supplying multi-crystalline modules, Hareon Solar Technologies is believed to have made investment in the project as well.
Last month, ReNew Power Ventures announced that it became the first company in India to achieve 1 GW of operational renewable energy assets. The company operates 29 wind and solar power projects across 9 states in India and has set a target to have operational assets of 6.5 GW solar power and 5 GW wind energy over the next 4-5 years.
In addition to Andhra Pradesh the company operates solar power projects in the state of Madhya Pradesh as well. It also secured rights to develop 149 MW solar power capacity in the state of Telangana. ReNew Power has entered a joint venture with South Korea-based Hanwha Q CELLS. Again, the modules manufacturer shall supply solar panels as well as make investment in the project.