The company will be investing close to Rs 35 crore in these projects which will supply energy to the Indian Railways through long term power purchase agreements (PPA) for 25 years. This is the first set of allocations by Indian Railways to any company under PPA mode.
Renewable energy development company, ReNew Power Ventures, has won bids for 5 MW solar installations across locations pan-India for the Indian Railways.
The company will be investing close to Rs 35 crore in these projects which will supply energy to the Indian Railways through long term power purchase agreements (PPAs) for 25 years. This is the first set of allocations by Indian Railways to any company under PPA mode.
Out of the total 5 MW allocation under various zones, 1 MW has been allocated by North Central Railway division for Allahabad & Kanpur, 1 MW has been allocated by South Western Railway division for Bengaluru & Hubli.
Another 1 MW has been allocated by East Coast Railway division for Vishakhapatnam and 2 MW has been allocated by South Eastern Railway division for Kharagpur, Adra, Chakradharpur, Jamshedpur etc.
The pan-India installations mentioned above will be carried out to a large extent in the station buildings, railway offices, workshops amongst other building premises. In total, these projects will generate more than 7 million units of power annually and offset over 6000 tonnes of carbon emissions every year.
The transaction will also result in significant saving in energy cost for Indian Railways without any investment.
Speaking of this new undertaking, Sumant Sinha, Chairman and CEO, ReNew Power said, "We are proud to be associated with the Indian Railways, the most extensively used means of transportation in India. It is a great honour for us to be instrumental in accomplishing their initiative of going solar."
Reinforcing these words further, Prabhat Kumar Mishra, Head - Distributed Solar and Offtake, ReNew Power said "It is indeed a matter of pride for us that after metro rail and airport, we will now be catering to Indian railways under the distributed solar segment. We hope to be a part of many more such government projects along with several private customers whom we serve across India."