ReNew Peak Power Renewable Energy Project
India
Proposed
Clean Energy and Energy Efficiency
Quick Facts
More About This Project
The Government of India (“GoI”) aims to reach net zero emissions by 2070 and to meet 50% of its electricity requirements from renewable energy by 2030. The GoI has also announced a target of 500 GW of renewable energy by 2030, thereby reducing the emissions intensity of the country’s economy by 45%.
ReNew Private Limited (“Renew” or the “Sponsor”) is the second largest Indian renewable energy developer, established in 2011 by the current chairperson and chief executive officer, Mr. Sumant Sinha. Renew’s entire operations and management is based in India, however, it is listed overseas through a parent company Renew Global PLC (“Renew Group”) and has a market capitalization of USD 2.8 billion. ReNew has an aggregate 18.5 GW capacity including 7.3 GW capacity which is under development.
The Project involves development of a hybrid renewable energy generation plant that consists of 250 MW wind power capacity, 435 MW solar power capacity and a 415 MWh battery energy storage system (“BESS”). The Project is designed to deliver electricity round the clock, as required by the electricity grid in India. The BESS equipped can be charged by excess power during non-peak hours, the overall combination of wind, solar and BESS capacity ensures the Project to deliver the required 300 MW PPA capacity during peak periods.
To support India energy transition through expansion of renewable energy sources capacity and reduction of reliance on fossil fuels.