US$1 billion financing has been secured for a ‘Round-The-Clock’ (RTC) renewable energy project in India, marking the biggest single-project clean energy deal in the country, developer ReNew Power has claimed.
Renewables-focused independent power producer (IPP) ReNew Power said yesterday that it has reached agreement on a project finance loan with 12 different international lenders for the 1,300MW mixed technology project.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
Anticipated to include 900MW of wind and 400MW of solar PV deployed across regions in three Indian states: Karnataka, Rajasthan and Maharastra, the inclusion of battery energy storage system (BESS) technology is designed to make the energy dispatchable 24/7 throughout the year.
This means it can be competitive technologically to thermal energy sources like coal to provide baseload energy, the IPP claimed. A 25-year power purchase agreement (PPA) has been signed for the project with the national Solar Energy Corporation of India (SECI), as reported by PV Tech in April last year.
To read the full version of this story, visit Energy-Storage.news.
