ReNew Power Ventures Private Limited, India’s leading renewable energy company, today announced that it has signed a Power Purchase agreement (PPA) with the Chandigarh International Airport (CHIAL) for solar installations. The agreement duration for the project is 25 years and was signed after a competitive bidding process, in February 2016, for 5MW installation at the airport. Once completed the project will help CHIAL generate 8.4 million units of power annually and offset over 8,000 tonnes of Carbon emissions annually. The power generated by the installations will be utilized for captive consumption of the airport and will reduce the cost of energy by 20%.
CHIAL is a subsidiary of Airports Authority of India (AAI) and this was one of the first bids under RESCO (Renewable Energy Service Company) model conducted by the AAI. As an innovation driven enterprise which is committed to deliver value to stakeholders, ReNew Power will introduce a tracker facility for this project. The 5MW PV plant will use a single axis tracker technology that will maximize output from the plant. The horizontal single axis tracker with tilted module is a unique approach that leads to increase in yields from the plant.
Commenting upon the business association, Mr. Sumant Sinha, Chairman and CEO, ReNew Power said, “At ReNew Power, we are firm believers that institutions such as the AAI have to lead and show the way to individuals on reducing green-house gas emissions. We are therefore delighted to be selected as partners in the Chandigarh International Airport Limited’s attempts to reduce their carbon footprint. As their technology and innovation partners, ReNew will bring best in class expertise in project management and execution besides introducing the tracker technology to help CHIAL maximize its yield.”
ReNew Power has over 40 MW of commissioned and under-construction project capacity in distributed solar with marquee customers from various industry sectors like automobile, textile, IT and ITES, hospitality etc. In addition, ReNew has over 1,200 MW of commissioned utility scale assets and another 1,800 MW under construction.
