Indian independent power producer (IPP) ReNew Power has signed an offtake agreement with tech giant Microsoft for 150MW of solar capacity in India.
With one of the largest power purchase agreements (PPAs) signed in the country, according to ReNew Power, the IPP will produce the energy from one of its recently commissioned plants in Bikaner, in the solar hotbed state of Rajasthan.
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The Indian IPP continues to increase its offtake agreements in India after securing roughly 2GW earlier this year with several corporates and state utilities for which the solar projects will also be located in the state of Rajasthan.
Moreover, last August the company secured a US$1 billion financing for a ‘Round-The-Clock’ (RTC) renewable energy project in India, which was dubbed at the time the biggest single-project clean energy deal in the country and that will have 1.4GW of solar and wind capacity and will include battery energy storage too.
Rohini Srivathsa, national technology officer at Microsoft India, said: “Microsoft is striving to run 100% on renewable energy by 2025 and turn carbon negative by 2030. We are happy to partner with ReNew Power to meet our sustainability targets, and to also help our customers and partners on their sustainability journey.”
As of the end of the third quarter of 2022, the IPP had a portfolio of 13.4GW of renewable energy projects across India that includes commissioned and committed projects.
