The Indian independent power producer has commissioned the largest solar PV project to date in the Indian state of Telangana, where it is looking to grow its solar portfolio to 510 MW over the next few months.
ReNew Power Ventures Pvt. Ltd. has announced the completion of its 143 MW solar farm in Dichpally, located in Nizamabad district of Telangana, where the company’s current installed capacity stands at 345 MW.
“The Government of Telangana is committed to providing good quality clean power to the industry and the people of the state. ReNew Power is one of the largest renewable energy investors in the state and has a proven track record. This state-of-the-art solar plant, which has been commissioned ahead of schedule, will help us meet our peak power requirement this season,” said Sri G. Jagadish Reddy, Energy Minister of Telangana at the inauguration ceremony.
With an installed generation capacity of more than 2 GW and around 1 GW in the pipeline across the country, ReNew Power is seeking to address the needs of the power-thirsty nation, with the state of Telangana as one of its major regions.
“The enabling environment and the support that the administration provides makes Telangana an attractive state for the solar power industry. Over the next few months, we will reach an installed capacity of 510 MW in Telangana and our total investment will cross INR 3,700. With more than 20% share of the solar energy industry, we are one of the largest players in the state,” said Sumant Sinha, Chairman and CEO of ReNew Power.
Whilst the company is looking to grow its rooftop business, it is also seeking to step up efficiency of its large-scale solar PV projects.
“The Dichpally solar farm is the largest solar plant in Telangana and the first one to use tracker technology at such a large scale, which increases the power generation by 15% – 20%,” said Parag Sharma, Chief Operating Officer of ReNew Power, adding that the farm was commissioned 3 months ahead of the schedule.
Earlier this year, the Indian renewable energy firm secured $390 million in multilateral financing to build 389 MW of solar capacity in the Indian states of Telangana and Jharkhand, as well as 311 MW of wind farms.