GURGAON, India, April 21, 2021 /PRNewswire/ -- ReNew Power
("ReNew", or "the Company"), India's leading renewable energy company,
announced that it has commissioned a 105 megawatt (MW) solar
generation facility in the Indian state of Gujarat.
The project has a 25-year power purchase agreement with the
Gujarat Urja Vikas Nigam Limited (GUVNL) to provide clean
electricity to the state of Gujarat at a tariff of Rs 2.68/kWh (US$0.036/kWh). ReNew will deploy advanced mono
perc solar modules with seasonal tilt structure design as part of
the project to ensure greater generation efficiency and maximum
utilization of assets at the solar farm.
This project located in the Patan District of Gujarat, takes
ReNew's total operational solar capacity in Gujarat to 145 MW and
total aggregate Solar capacity to 4.7 GW across India. Since March, ReNew Power has announced
commissioning of over 500 MW (300 MW in Gujarat, 110 MW in
Rajasthan and now 105 MW) of combined wind and solar energy
projects.
Speaking about the Gujarat solar farm project, Founder,
Chairman and CEO of ReNew Power, Mr. Sumant
Sinha said, "The 105 MW Gujarat project commissioning is
a significant step forward for ReNew Power. The project has been
commissioned amidst a COVID-19 surge and reflects the commitment of
our team to contribute towards India's ambition of achieving 450 GW of clean
energy by 2030."
As previously announced, ReNew Power has entered into a
definitive agreement for a business combination with RMG
Acquisition Corporation II (NASDAQ: RMGB), a publicly traded
special purpose acquisition company (SPAC), that would result in
ReNew becoming a publicly listed company. Completion of the
proposed transaction is subject to customary closing conditions and
is expected to occur in the second quarter of 2021.
About ReNew Power
ReNew Power Private Limited is India's leading renewable energy independent
power producer (IPP) by capacity and is the 13th largest global
renewable IPP by operational capacity. ReNew develops, builds,
owns, and operates utility-scale wind energy projects,
utility-scale solar energy projects, utility-scale firm power
projects and distributed solar energy projects. As of December 31st 2020, ReNew Power had a
total capacity of close to 10 GW of wind and solar energy projects
across India, including
commissioned and committed projects. ReNew has a strong track
record of organic and inorganic growth. ReNew's current group of
stockholders contains several marquee investors including Goldman
Sachs, CPP Investments, Abu Dhabi Investment Authority, GEF SACEF
and JERA
For more information, please visit:
www.renewpower.in; Follow ReNew Power on Twitter
@ReNew_Power
No Offer or Solicitation
This press release is for informational purposes only and shall
neither constitute an offer to sell or the solicitation of an offer
to buy any securities, nor shall there be any sale of securities in
any jurisdiction in which the offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction.
Press Enquiries
Arijit Banerjee
arijit.banerjee@renewpower.in
+91 9811609245
Madhur Kalra
Madhur.kalra@renewpower.in
+91 9999016790
Investor Enquiries
Caldwell Bailey
ICR Inc.
IR@renewpower.in
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SOURCE ReNew Power Private Limited