Japan’s trading firm Mitsui & Co is all set to invest in the Indian firm’s renewable energy project aggregating 1,300 Mw and 100 MWh battery storage.
ReNew Power announced that the Japanese company will invest in a round-the-clock power project.
The company had earlier signed a 400 Mw round-the-clock (RTC) power purchase agreement to supply electricity to Solar Energy Corporation of India (SECI). The power purchase agreement for the pilot RTC project was signed for 25 years.
According to the company statement, "it will install 1,300 Mw of renewable energy capacity and up to 100 MWh of battery storage."
It has been informed that the RTC project consists of three newly built wind farms and one solar plus battery storage farm.
The projects are based in the states of Rajasthan, Karnataka, and Maharashtra, and provide 400 MW electricity to SECI.
“The RTC project, the first of its kind in India, provides the lowest cost and emission-free 24 X 7 renewable electricity. We are proud to partner with Mitsui, a leading global conglomerate, to support India’s green energy transition and look forward to strengthening this partnership in the future,” Sumant Sinha, chairman and CEO of ReNew Power commented.
As per the company statement, the project’s commercial operations are expected to start in the third calendar quarter of 2023.