GURGAON, India, April 7, 2021 /PRNewswire/ -- ReNew Power
("ReNew", or "the Company"), India's leading renewable energy company,
announced that it has commissioned a 110 megawatt (MW) solar
generation facility in the Indian state of Rajasthan.
As part of the project, ReNew has signed a power purchase
agreement with Solar Energy Corporation of India at a tariff of Rs
2.49/kWh (US $0.034/kWh) and
will provide clean energy to the state of Rajasthan. The 110 MW
solar project commissioned by ReNew is a part of an eventual 2,300
MW of solar capacity that ReNew is bringing online in Rajasthan.
The balance of the 2,300 MW of generation capacity will generate
electricity to be fed into the national grid, aiding in the
achievement of India's target of
450 gigawatts of clean energy by 2030.
Deployment of monocrystalline and bifacial solar modules and
state of the art robotic cleaning techniques for ReNew's finished
solar panels will ensure greater efficiency and maximum utilization
of solar modules in the solar farm, which is in the Jaisalmer
District of Rajasthan.
With this commissioning, ReNew's total solar capacity in
Rajasthan stands at 500 MW.
Speaking about the project, Founder, Chairman and CEO of
ReNew Power, Mr. Sumant Sinha
said, "The commissioning of our solar project in Rajasthan is
another step in ReNew's ambitious solar energy program. In
Rajasthan alone, we aim to commission 2,300 MW of solar power
capacity by 2023. As with the Gujarat wind generation project
commissioning announced in March, this milestone is an important
one for both the Company and India, as we continue to build out renewable
power infrastructure, and move the country closer to achieving its
renewable energy target."
About ReNew Power
ReNew Power Private Limited is India's leading renewable energy independent
power producer (IPP) by capacity and is the 13th largest global
renewable IPP by operational capacity. ReNew develops, builds,
owns, and operates utility-scale wind energy projects,
utility-scale solar energy projects, utility-scale firm power
projects and distributed solar energy projects. As of December 31st 2020, ReNew Power had a
total capacity of close to 10 GW of wind and solar energy projects
across India, including
commissioned and committed projects. ReNew has a strong track
record of organic and inorganic growth. ReNew's current group of
stockholders contains several marquee investors including Goldman
Sachs, CPP Investments, Abu Dhabi Investment Authority, GEF SACEF
and JERA
As previously announced, ReNew has entered into a definitive
agreement for a business combination with RMG Acquisition
Corporation II (NASDAQ: RMGB), a publicly traded special
purpose acquisition company (SPAC), that would result in ReNew
becoming a publicly listed company. Completion of the proposed
transaction is subject to customary closing conditions and is
expected to occur in the second quarter of 2021.
For more information, please visit:
www.renewpower.in; Follow ReNew Power on Twitter
@ReNew_Power
No Offer or Solicitation
This press release is for informational purposes only and shall
neither constitute an offer to sell or the solicitation of an offer
to buy any securities, nor shall there be any sale of securities in
any jurisdiction in which the offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.
Press Enquiries
Arijit Banerjee
arijit.banerjee@renewpower.in
+91-9811609245
Madhur Kalra
Madhur.kalra@renewpower.in
+91-9999016790
Investor Enquiries
Caldwell Bailey
ICR Inc.
IR@renewpower.in
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SOURCE ReNew Power Private Limited