Bid & Tender


ReNew Signs 5 PPAs; Expands Portfolio to 15.6 GW

ReNew has signed five power purchase agreements (PPAs) totalling around 2.2 GW of renewable energy (RE) capacity, expanding its fully contracted renewable energy portfolio. The clean energy company's overall portfolio now stands at 15.6 GW.


In addition, the company has also received letter of awards (LoAs) for an additional around 5.8 GW of RE capacity. Of the five PPAs, ReNew signed three solar PPAs totalling 800 MW with NTPC, Damodar Valley Corporation (DVC), and Solar Energy Corporation of India (SECI) at a weighted average tariff of Rs 2.59 per kWh. Around one GW of firm and dispatchable renewable energy (FDRE) PPA was signed with SJVN at a tariff of Rs 4.39 per kWh, adding to its counterparty profile. Besides, it also added 438 MW PPA with a multinational C&I customer.


These agreements provide visibility for future growth at returns above the threshold levels. Combined, these PPAs will involve development of 1,500 MW of solar and 688 MW of wind projects and are expected to be commissioned over the next 24 months. With an operational capacity of around 9.5 GW, it will annually generate about 21 billion units of electricity, powering around six million households and mitigating about 17 million tonnes of CO2 emissions annually.


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