Indian independent power producer (IPP) Ayana Renewable Power has signed a power purchase agreement (PPA) with metallurgical company Hindalco to supply 100MW of round-the-clock (RTC) renewables.
The capacity will provide electricity to Hindalco’s smelter plants in the eastern state of Odisha, India, as the aluminium industry requires reliable and continuous power.
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In order to provide RTC renewables to the smelter plants, the Indian IPP is set to develop 330MW of solar and wind power capacity and will also utilise pumped hydro storage solutions in partnership with renewables company Greenko Energies.
This is not the first of such projects Greenko has been part of, as it partnered with steel manufacturer ArcelorMittal to develop a nearly 1GW RTC wind and solar project in the state of Andhra Pradesh, which is expected to be fully operational by mid-2024.
Hybrid projects have been trending in India lately as one of the emerging investment opportunities, with more and more companies and utilities seeking RTC renewable energy projects. Among them are the 250MW solar-wind hybrid project from Tata Power, a 300MW hybrid project from retail giant Amazon, a third tender seeking 2.5GW RTC renewables energy from state-owned Solar Energy Corporation of India, and an expression of interest from state-owned power trading entity NVVN for RTC renewable energy, as covered by our sister site Energy-Storage.news.
Shivanand Nimbargi, MD & CEO of Ayana Renewable Power, said: “At Ayana Renewable Power, we are resolutely committed to steering India’s energy transition journey. Our latest project marks a pivotal milestone as we deliver 100 MW of uninterrupted, carbon-free power round-the-clock – a pioneering feat in the industrial segment.”
Moreover, the Indian IPP has a portfolio of 5GW of solar, wind and hybrid power projects currently under development and management, located across several Indian states, including Andhra Pradesh, Tamil Nadu, Karnataka, Rajasthan, and Gujarat. The company is targeting a 10GW portfolio by 2025.